The purpose and use for this proposed funding are as follows:
1. Continue to advance the
2. Further de-risk the Chester deposit with metallurgical test work focused on the beneficiation understanding of the
3. Initiate preliminary ore sorting testing program. The purpose of this ore sorting program is to potentially improve the Chester copper ore body by increasing the value per ton of mill feed and reduce the amount of waste material required to mine the deposit. Further, this testing program will improve our understanding of potential toll milling opportunities and their economic viability.
4. Budget and funding dependent, begin regional prospecting at the
The proceeds of the FT Offering will be used to incur eligible 'Canadian exploration expenses' that qualify as 'flow-through mining expenditures' as both terms are defined in the Income Tax Act (
It is the intention of the Company to incur, and renounce to subscribers, pursuant to the Subscription Agreement, expenses that will qualify for the CMETC, if the intended exploration program and proposed Qualifying Expenditures will qualify for the CMETC upon its enactment, and it is reasonable for the Company, in its determination, to comply with the requirements of the CMETC and incur and renounce the CMETC to the Subscriber.
Closing is expected on or about
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in
About
Contact:
Director and CEO
Email: simon@canadiancopper.com
E: ir@canadiancopper.com
T: (905)-220-6661
Web: www.canadiancopper.com
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This news release includes certain forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the proposed FT Offering, proposed use of proceeds, market and regulatory approval, anticipated closing date for the FT Offering, future exploration programs, anticipated exploration program results from exploration activities, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as 'pro forma', 'plans', 'expects', 'will', 'may', 'should', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', 'believes', 'potential' or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option to acquire properties under the Puma Option Agreement, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the CSE), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading 'Risk Factors' in the Company's prospectus dated
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