VANCOUVER, BC / ACCESSWIRE / March 4, 2019 / CopperBank Resources Corp. (“CopperBank” or the “Company”) (CSE: CBK) announces that it has issued 1 million common shares of the Company to Antofagasta Minerals S.A. to satisfy their July 28, 2017 assignment agreement. The Company has also paid USD $25,000 of the USD $150,000 payment. The balance USD $125,000 is to be paid in a single transaction, at any time by March 4, 2020, with interest to be charged on such amount daily commencing on March 5, 2019 until such payment is made, at an annual interest rate of 10%.
The Company also announces that it will raise up to $700,000 by issuing 10 million shares by way of private placement at 0.07 per share. It anticipates that this financing will close in the very near future. Use of proceeds will be to satisfy the above mentioned final payment and other project related expenses.
CopperBank is a Canadian exploration mining company focused on energy related metal exploration in The United States of America. The Company trades on the Canadian Securities Exchange – CSE – under the symbol “CBK”.
On behalf of CopperBank Resources Corp.
Advisory Regarding Forward-Looking Statements
Certain information in this release constitutes forward looking statements or information (“forward-looking statements”) under applicable securities laws and necessarily involves risks and uncertainties.
Forward-looking statements included herein are made as of the date of this news release and, except as required by applicable law, CopperBank does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.
The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Forward-looking statements relate to future events or future performance and reflect management of CopperBank’s
expectations or beliefs regarding future events. In certain cases, forward-looking statements can be identified by the use of words such as “plans,” or “believes,” or variations of such words and phrases or statements that certain actions, events or results “may,””could,””would,””might” or “will be taken,””occur” or “be achieved” or the negative of these terms or
comparable terminology. Examples of forward-looking statements in this news release include, but are not limited to, statements with respect to the Company’s ongoing review of its existing portfolio, the involvement of CopperBank in any potential divestiture, spin-out, partnership or other transactions involving the Company’s portfolio assets, and the ability of the
Company to complete any such transactions, the ability of CopperBank to enter into transactions that will ultimately enhance shareholder value, and potential future work or activities in respect of the Pyramid project or the Contact
project. Although CopperBank believes that the expectations reflected in the forward-looking statements are
reasonable, forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to
CopperBank. Forward-looking statements are based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or
implied by forward-looking information. Such factors and assumptions include, but are not limited to, the Company’s ability to identify and complete one or more transactions involving the Company’s portfolio assets that enhance shareholder value as part of management’s ongoing review of strategic alternatives in the current market conditions. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Such factors include, but are not limited to, the risk that the Company will not be able to identify and complete one or more transactions involving the Company’s portfolio assets that enhance shareholder value as part of management’s ongoing review of strategic alternatives in the current market conditions. Although CopperBank has
attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. For more information on CopperBank and the risks and challenges of its businesses, investors should review the continuous disclosure filings that are available under CopperBank’s profile at www.sedar.com.
SOURCE: CopperBank Resources Corp.
View source version on accesswire.com: