Copper One Provides Update on Its Change of Business and Announces Proposed Name Change

TORONTO, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Copper One Inc. (“Copper One” or the “Company”) is pleased to announce that it has received conditional approval (the “Conditional Approval”) from the Canadian Securities Exchange (“CSE”) to proceed with a previously announced change of business to an investment company (the “Change of Business”) under the rules of the CSE, and to list its common shares (the “Common Shares”) on the CSE. As a result of the Conditional Approval, the Company has delisted its Common Shares from the TSX Venture Exchange effective August 13, 2019. The Company is working diligently to satisfy the remaining conditions set out in the Conditional Approval and will provide an update with the expected listing date in due course.

In addition, the Company announces its intention to change its name from “Copper One Inc.” to “QuestCap Inc.”, or such other name as the Company’s directors may determine, (the “Name Change”) to better reflect the Company’s business activities following completion of the Change of Business. The Company’s shareholders will be asked to adopt a special resolution approving the Name Change at its annual and special meeting of shareholders to be held on September 25, 2019.

For more information about Copper One, please contact:

G. Scott Moore
Chairman
smoore@copperone.com

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, the Change of Business and the Name Change, the ability of the Company to complete the Change of Business and the Name Change, the expected benefits of the Change of Business to the Company and its shareholders, the listing of the Common Shares on the CSE and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Copper One, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Copper One has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Copper One does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 

Completion of the Change of Business is subject to CSE acceptance. There can be no assurance that the Change of Business will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the listing statement to be prepared in connection with the Change of Business, any information released or received with respect to the Change of Business may not be accurate or complete and should not be relied upon. Trading in the securities of Copper One should be considered highly speculative.