Carube Copper to Issue Shares for Debt
Ottawa, Ontario--(Newsfile Corp. - May 30, 2017) - Carube Copper Corp. (TSXV: CUC) announced today that it has agreed to pay off certain indebtedness by issuing common shares at a deemed price of $0.12 per share in lieu of cash to McLean & Kerr LLP (500,000 shares) thus enabling the company to immediately apply more resources to its aggressive drill programs in Jamaica.
The settlement is subject to the approval of the TSX Venture Exchange (the "Exchange") and upon issuance, the shares will be subject to a four month hold period.
Contacts
Jeff Ackert, President and CEO ?EUR? 1-613-839-3258 ?EUR? jackert@carubecopper.com
Alar Soever, Chairman ?EUR? 1-705-682-9297 ?EUR? asoever@carubecopper.com
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Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Carube Copper Corp. (TSXV: CUC) is a Canadian exploration company focused on the exploration and development of copper and gold projects in Jamaica and Canada. In Jamaica, Carube Copper holds a 100% interest in 11 licenses, totalling 535 square kilometres. In Canada, it holds a 100% interest in three porphyry copper-gold-molybdenum properties, totalling 492 square kilometres within the Tertiary-aged Cascade Magmatic Arc in southwestern British Columbia. Exploration continues on these properties with the goal of joint-venturing them to larger exploration and mining companies. Carube Copper continues to seek opportunities in Canada and the Caribbean for acquisition and development.
DISCLAIMER & FORWARD LOOKING STATEMENTS
This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Corp. provides no assurance that actual results will meet management's expectations. Factors which cause results to differ materially are set out in the Company's documents filed on SEDAR. Undue reliance should not be placed on "forward looking statements."
IMPORTANT NOTICE: By reference herewith, Carube Copper incorporates into this release the entire disclaimer set forth on its website at http://www.carubecopper.com/uploads/1/6/5/2/16521880/disclaimers-and-forward-statements.pdf.