VANCOUVER, BC / ACCESSWIRE / May 13, 2019 / CopperBank Resources Corp. ("CopperBank") (CSE: CBK) is pleased to announce that the Company is planning to arrange a convertible debenture financing for gross proceeds of $1,000,000. Terms of the debenture contemplated would be for a two-year duration and would pay the lender 15% interest, calculated monthly, and payable in CopperBank common shares. The conversion price for the interest portion of the instrument is anticipated to be $0.05 per share while the conversion price for the principal is anticipated to be at $0.08 per share.
CopperBank CEO, Gianni Kovacevic, comments. "This financing provides a multi-year runway for CopperBank to satisfy payment obligations. Our owner-operator business model is extremely mindful of dilution, so we are happy to provide a plan that demonstrates alignment with the shareholders who have supported our efforts. Meanwhile, our team is working hard to assess accretive opportunities with established copper projects and royalties, located in favorable locations."
On behalf of CopperBank Resources Corp.
Chief Executive Officer
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
E-mail: [email protected]
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. 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. 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. 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.