Majuba Hill Closes Acquisition of Copper Chest Project
*Press Release December 19, 2023
MAJUBA HILL CLOSES ACQUISITION OF COPPER
CHEST PROJECT
VANCOUVER, BC — December 19, 2023 — Majuba Hill Copper Corp. (CSE:
JUBA| OTC: JUBAF | FWB:4NP) (“Maju ba Hill Copper” or the “Company”) is
pleased to announce is pleased to announce that further to its news release dated
October 9, 2023 it has completed the acquisition (the “Acquisition”) of all the issued
and outstanding common shares in the capital of 1429570 BC Ltd. (“ 1429 BC ”)
pursuant to the terms of a share exchange agreement dated October 5, 2023 (the
“Share Exchange Agreement ”) between the Company, 1429 BC, and the
Shareholders of 1429 BC (the “1429 BC Shareholders”).
1429 BC is a privately held Company based in Vancouver, British Columbia. 1429 BC
holds title to the Copper Chest Project, which includes 15 mineral claims totaling 375
hectares located approximately 180km SE of St. John’s, Newfoundland.
Share Exchange Agreement Terms
Pursuant to the terms of the Share Exchange Agreement and in consideration for the
Acquisition, the Company issued an aggregate of 13,260,000 common shares in the
capital of the Company (the “ Payment Shares ”) pro rata to the 1429 BC
Shareholders at a deemed price of $0.1 5 per Payment Share. The Payment are
subject to a restriction of resale for a per iod of four months and one day from the
closing date of the Acquisition.
None of the securities to be issued pursuant to the Transaction have been or will be
registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities
Act”), or any state securities laws, and any securities issued pursuant to the
Transaction are anticipated to be issued in reliance upon available exemptions from
such registration requirements pursuant to Rule 506(b) of Regulation D and/or
Section 4(a)(2) of the U.S. Securities Ac t and applicable exemptions under state
securities laws. In addition, the securiti es issued under an exemption from the
registration requirements of the U.S. Securities Act will be “restricted securities” as
- 2 -
defined under Rule 144(a)(3) of the U.S. Securities Act and will contain the
appropriate restrictive legend as required under the U.S. Securities Act.
About Majuba Hill
Majuba Hill Copper Corp. is engaged in the identification, review and acquisition of
latter stage copper and copper/silver/gold assets. This is in direct response to the
growing worldwide demand and lack of supply for precious metals fueled by the Green
New Deal in the US and most other developed nations with similar programs aimed
at addressing climate change. Such programs are heavily reliant on silver, gold and
especially copper to produce Electric Vehicles and other renewable power sources, as
well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill co pper, silver and gold District located 156
miles outside Reno, Nevada, USA. Management has been mandated to focus on safe,
mining friendly jurisdictions where government regulations are supportive of mining
operations.
On Behalf of the Board of Majuba Hill Copper Corp.
“David Greenway”
David C. Greenway
President & CEO
For further information, please contact:
Joel Warawa
VP of Corporate Communications
E: [email protected] P: 1 (855) 475-0745
Neither the Canadian Securities Exch ange nor its Regulation Services
Provider (as that term is defined in the policies of the Ca nadian Securities
Exchange) accepts responsibility for the adequacy or accuracy of this news
release.
FORWARD LOOKING STATEMENTS:
This news release includes certain statements that may be deemed “forward-looking
statements”. All statements in this news release, other than statements of historical
facts, that address events or development s that the Company expects to occur, are
forward-looking statements. Forward-looking statements are statements that are not
- 3 -
historical facts and are generally, but not al ways, identified by the words “expects”,
“plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and
similar expressions, or that events or conditions “will”, “would”,
“may”, “could” or “should” occur. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual results may
differ materially from those in the forward-looking statements. Factors that could
cause the actual results to differ materially from those in forward-looking statements
include regulatory actions, market prices, and continued availability of capital and
financing, and general economic, market or business conditions. Investors are
cautioned that any such statements are not guarantees of future performance and
actual results or developments may differ materially from those projected in the
forward-looking statements. Forward-lookin g statements are based on the beliefs,
estimates and opinions of the Company's management on the date the statements
are made. Except as required by applicable securities laws, the Company undertakes
no obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.