CopperBank Establishes CopperBank Royalties Corp.
VANCOUVER, October 22, 2019 - CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK)(OTC:CPPKF)(FSE:9CP) is pleased to announce that it has established a wholly owned subsidiary, CopperBank Royalties Corp., with a plan to augment the Company's diverse portfolio of established copper projects by offering investors superior diversification into a comprehensive and complete portfolio of copper assets. This will include the Company's 100% ownership of projects and royalties.
The Company will launch CopperBank Royalties Corp. with two royalty assets from CopperBank's 100% owned Contact Copper Project located in Elko County, Nevada, and 100% owned Copper Creek Project located in Pinal County, Arizona. Additionally, CopperBank is actively evaluating other royalty assets for potential acquisition by CopperBank Royalties Corp.
CopperBank's CEO, Gianni Kovacevic, comments "The royalty business model is a proven, cost effective way to significantly grow shareholder value in the natural resource space. CopperBank has a unique position in this space as we have organic royalty opportunities within the Company's existing portfolio of projects. Segregating these two royalty assets into Copperbank Royalties Corp. affords us a near zero cost basis opportunity to unlock tremendous shareholder value. Subject to market conditions and the Company's ability to complete additional mineral royalty acquisitions, the Company will consider spinning out the securities of CopperBank Royalties Corp. to our shareholders and listing the resulting entity on a Canadian stock exchange."
The completion of any further royalty acquisitions, or potential spinout transaction and public listing of CopperBank Royalties Corp. will be subject to the completion of definitive agreements, regulatory approval and the approval of the Company's board of directors.
On behalf of Copperbank Resources Corp.
Chief Executive Officer
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
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 , the potential acquisition by CopperBank Royalties Corp. of any additional assets. 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 risks related to changing market conditions, changes in metals prices, the ability of the Company to raise financing, and 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.
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