VANCOUVER, BC / ACCESSWIRE / August 10, 2022 / Infinitum Copper Corp. (TSXV:INFI)(OTCQB:INUMF) ("Infinitum Copper" or the "Company") is pleased to announce that it has completed its previously announced issuance of shares in exchange for mineral exploration services. The Company entered into a debt settlement agreement with an arm's length contractor, pursuant to which the Company has now issued 1,156,770 common shares ("Common Shares") at a deemed value of $0.20 per Common Shares in full satisfaction of the mineral exploration services (the "Shares for Debt")
The Common Shares issued in connection with the Shares for Debt will be subject to a four month restricted resale period that expires on December 10, 2022 and applicable securities legislation hold periods outside of Canada from the closing date. The Shares for Debt arrangement is subject to all necessary approvals, including the approval of the final acceptance of the TSX Venture Exchange.
For more information, please contact Anna Okopnaya, Manager of Investor Relations for Infinitum Copper, at [email protected], +525534417980, or Steve Robertson, President and CEO of Infinitum Copper, at [email protected], (604) 409-3917.
On Behalf of the Board of Directors of
INFINITUM COPPER CORP.
Chief Executive Officer
Neither 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.
About Infinitum Copper
Backed by a strong team of industry veterans, Infinitum Copper is advancing La Adelita project, where the Company has an option to earn an 80% interest. The high-grade copper-silver-gold La Adelita Project is located in Sonora and Sinaloa states in Mexico and is subject to a 2% NSR. La Adelita is a Carbonate Replacement Deposit located in a mineralized district with a rich history. Infinitum Copper also has an option to earn 100% interest in the Hot Breccia project in the heart of the Arizona Copper Belt about 90km north of Tucson, AZ. The Hot Breccia project is prospective for porphyry copper and copper skarn mineralization.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, are inherently subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the Company's business, as described in the Company's Filing Statement dated February 11, 2022. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
SOURCE: Infinitum Copper