TORONTO, ONTARIO--(Marketwired - Jan. 11, 2016) - Copper One Inc. (TSX VENTURE:CUO) ("Copper One" or the "Company") has completed its share for debt settlement with various creditors as previously announced on November 18, 2015, and has issued 3,900,000 common shares of Copper One (the "Common Shares") at a deemed price of $0.05 per Common Share and has extinguished $195,000 in debt owed to the creditors. As a result, the Company currently has 10,753,385 common shares issued and outstanding.
The Common Shares are subject to a statutory hold period of four months and one day which expires on May 8, 2015.
About Copper One
Copper One is focused on developing high-value copper and gold projects in leading mining jurisdictions. The Company is part of the Forbes & Manhattan Group of Companies, which has built, operated and sold mines in Canada and globally. The Copper One portfolio includes the Rivière Doré copper-nickel project, located near Val d'Or, Quebec, and the Queylus copper-gold project, located in the Chibougamau mining district in Quebec.
This news release contains forward-looking information relating to the Company's growth and corporate strategy, and other statements that are not historical facts. Forward-looking information relates to management's future outlook and anticipated events or results, and may include statements or information regarding the Shares for Debt Settlement; and the future plans or prospects of the Company. Although management of the Company 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.
Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks and uncertainties associated with oil and gas exploration, development, exploitation, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. 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.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE