Carube Copper Receives Cash and Shares from Tocvan Ventures to start Earn-In at Rogers Creek Copper Project, BC Company Reports Results from AGM
Carube Copper Receives Cash and Shares from Tocvan
Ventures to start Earn-In at Rogers Creek Copper Project,
BC
Company Reports Results from AGM
Toronto, Ontario--(Newsfile Corp. - March 13, 2019) -
Carube Copper Corp.
(TSXV: CUC) is pleased to report that it has
received 500,000 common shares of Tocvan Ventures Corp. (Tocvan) and has also been paid $25,000 (Cdn.) pursuant to the
terms of a property option agreement between the Corporation and Tocvan dated May 23, 2018, as amended (the "Option
Agreement"). Tocvan has an option to acquire up to an 80% interest in the Rogers Creek Property which covers 212.34 km2 in
the Cascade Magmatic Arc of British Columbia, about 90 km northeast of Vancouver, British Columbia, in the Lillooet Mining
District. The Property consists of 47 mineral claims and is being explored for porphyry-style copper-gold mineralization.
In order
to maintain in force the option granted to it under the Option Agreement, and to exercise the option, Tocvan must incur the
following expenditures on the Rogers Creek Property:
Issue 200,000 common shares to Carube and complete a $200,000 work commitment within 30 days of the first
anniversary of the listing date on the CSE;
Issue 200,000 common shares to Carube and complete a $300,000 work commitment within 30 days of the second
anniversary of the listing date on the CSE; and
Issue 200,000 common shares to Carube and complete a $400,000 work commitment within 30 days of the third
anniversary of the listing date.
Issue 200,000 common shares to Carube and complete a $1,000,000 work commitment within 30 days of the fourth
anniversary of the listing date.
Stephen Hughes, Carube Copper's CEO and President remarks, "We are extremely pleased to see Tocvan go public and fulfill
their commitment to explore at the Rogers Creek Copper Project.
The company is anticipating a fruitful exploration season there
this year with the Tocvan team funding and operating the program.
This Joint Venture with Tocvan represents the first of several
that the company expects to negotiate and complete on its non-core assets in the near term.
Carube also intends to acquire new
property assets for addition to its portfolio.
A number of quality projects are currently under advanced review."
AGM Results
Carube would also like to announce the results from its Annual General and Special Meeting ("AGM") held in Toronto, Ontario,
on March 2, 2019.
More than 31% of the record date outstanding shares of the Company were represented at the meeting by proxy or in person. All
of the matters submitted to the shareholders for approval set forth in the Company's Notice of Meeting and Information Circular
dated January 16, 2019, were approved by more than 99% of votes cast; including the re-election of Tony Manini, Alar Soever,
Zimi Meka, Stephen Hughes and Yale Simpson as directors.
The appointment of PricewaterhouseCoopers LLP as auditors was confirmed.
The Stock Option Plan and the reservation for issuance of the maximum number of shares permitted under the plan was
approved by in more than 99% of votes cast at the meeting.
The officers of the company are:
Mr. Antony Manini, B.Sc. (Hons), FAusIMM, FSEG,
Chairman of the Board, Independent Director
Mr. Stephen Hughes, B.Sc. (Geology), President and Chief Executive Officer
Mr. Jeffrey Ackert, B.Sc. (Geology), VP Business Development
Mr. John McNeice, CA, CPA, Chief Financial Officer
Mr. Chris Irwin, B.A., LL.B., Corporate Secretary and Counsel
About Carube Copper
Carube is focused on the exploration and development of copper and gold projects in Jamaica and Canada. In Jamaica,
Carube Copper holds a 100% interest in 11 licenses, totalling 535 square kilometres. In Canada, it holds a 100% interest in
three porphyry copper-gold-molybdenum properties, totalling 492 square kilometres within the Tertiary-aged Cascade Magmatic
Arc in southwestern British Columbia.
Stephen Hughes, CEO and President +1 (647) 517-4574 •
Jeff Ackert, Vice President, Business Development • +1 (647) 957-2249 •
John McNeice. CFO • +1 (613) 692-7704 •
www.carubecopper.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking
statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks
and uncertainties. Although these statements are based on currently available information, Carube Copper Corp. provides no
assurance that actual results will meet management's expectations. Factors which cause results to differ materially are set out in
the Company's documents filed on SEDAR. Undue reliance should not be placed on "forward looking statements".
IMPORTANT NOTICE:
Carube Copper hereby incorporates the entire disclaimer set forth on its website at
http://www.carubecopper.com/uploads/1/6/5/2/16521880/disclaimers-and-forward-statements.pdf
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/43384