TORONTO, May 14, 2014 /CNW/ - Copper One Inc. (CUO-TSX:V) ("Copper One" or the "Company") announces the appointment of Benoit Gascon to its Board of Directors.
Mr. Gascon is the President and Chief Executive Officer of Mason Graphite Inc. and has over 20 years of experience in the graphite and carbon industries. Previously, he was the Chief Executive Officer of Stratmin Graphite, which operates the Lac-des-Iles deposit, one of North America's only producing graphite mines. He negotiated the take-over of Stratmin Graphite by Imerys SA, a world leader in industrial minerals, to form Timcal Graphite & Carbon, a leader in its industry. At Timcal, Mr. Gascon held various executive positions from Senior Vice-President Sales and Deputy General Manager to Senior Vice-President, Business Development and Strategy. Mr. Gascon is a Chartered Accountant and a Certified Management Accountant and holds a Bachelor in Business Administration from École des Hautes Études Commerciales (HEC).
Stock Option Grant
Copper One also announces that it has granted a total of 3,965,000 stock options to its officers, directors and certain consultants. The stock options vest immediately, subject to a four month regulatory hold period, and may be exercised at a price of $0.07 per option for a period of five years from the date hereof. This grant of options is subject to the approval of the TSX Venture Exchange.
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. On April 8, 2014, Copper One entered into an agreement to acquire the past-producing Troilus mine from First Quantum Minerals. Copper One expects to complete the acquisition of the Troilus mine on or before June 30, 2014.
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the Company's plans for developing its mineral properties and the anticipated timing for completing the acquisition of the Troilus property. 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 the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and shortages and other risks of the mining industry. Although 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. 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 Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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SOURCE Copper One Inc.