Wallbridge Announces Filing of Early Warning Report Related to the Acquisition of Common Shares Carube Copper Corp.
Wallbridge Announces Filing of Early Warning Report Related to the Acquisition
of Common Shares Carube Copper Corp.
Toronto, Ontario – March 23, 2017 – Wallbridge Mining Company L imited (TSX:WM,
FWB: WC7) (the “ Wallbridge”) today announced that it has filed an early warning report
(the “ Report”) announcing that its interest in Carube Copper Corp. (“ Carube”) has
increased and subsequently decreased in excess of 2% as a resul t of a debt settlement
arrangement amongst Wallbridge and Carube and an equity issuance by Carube.
As of the date hereof, Wallbridge owns 19,235,911 common shares (“Common Shares”) of
Carube (the Common Shares are listed for trading on the TSX Ven ture Exchange (TSXV:
CUC), and 400,000 Common Share purchase warrants (“ Warrant”) of Carube. On March
21, 2018 5,367,266 common shares (“ Common Shares”) of Carube, which shares are listed
for trading on the TSX Venture Exchange, were issued to Wallbri dge in the satisfaction of
$293,204 in outstanding debt ($0.0546 per Common Share) (the “ Issuance”). As a result of
the Issuance, Wallbridge’s ownership of Carube’s Common Shares increased, on a partially-
diluted basis, by approximately 3.6%. On March 22, 2018, Carube announced the closing of
a private placement of 29,823,331 units (the “Private Placement”). As a result of the Private
Placement, Wallbridge’s ownership of the Issuer’s Common Shares , on a partially-diluted
basis, decreased by 3.3% to 13.1%.
In future, Wallbridge may from time to time acquire or dispose ownership of, or control of
direction over, securities of Carube for investment purposes.
About Wallbridge Mining
Wallbridge is establishing a pipeline of projects that will sup port sustainable production and
revenue as well as organic growth through exploration and scalability.
Wallbridge is currently preparing to develop its 100%-owned hig h-grade Fenelon Gold
Property in Quebec with ongoing exploration and a bulk sample t argeted to start in 2018.
Wallbridge is also pursuing additional advanced stage projects which would add to the
Company’s near term project pipeline. These discussions benefit from the operating
capabilities Wallbridge demonstrated by safely and efficiently mining the Broken Hammer
deposit in Sudbury, which was completed in October 2015. Wallbr idge is also continuing
partner-funded exploration on its large portfolio of nickel, co p p e r , a n d P G M p r o j e c t s i n
Sudbury, Ontario, with a focus on its high-grade Parkin project.
Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British
Columbia through its ownership of Carube Copper Corp. (CUC:TSX- V, formerly Miocene
Resources Limited).
For more information, please contact:
Sean Stokes, Corporate Secretary, Wallbridge Mining Company Limited
Tel: 416-712-7418
This press release may contain forward-looking statements (including "forward-looking
information" within the meaning of applicable Canadian securities legislation and "forward-
looking statements" within the meaning of the US Private Securities L itigation Reform Act of
1995) relating to, among other things, the opera tions of Wallbridge and the environment in
which it operates. Generally, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not exp ect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or statem ents that certain actions, events or results
"may", "could", "would", "mig ht" or "will be taken", "occur" or "be achieved". Wallbridge
has relied on a number of assumptions and estimates in making such forward-looking
statements, including, without limitation, th e costs associated with the development and
operation of its properties. Such assumptions and estimates are made in light of the trends and
conditions that are considered to be relevant and reasonable based on information available
and the circumstances existing at this time. A num ber of risk factors may cause actual results,
level of activity, performance or outcomes of such exploration and/or mine development to be
materially different from those expressed or im plied by such forward-looking statements
including, without limitation, whether such discoveries will result in commercially viable
quantities of such mineralized materials, the po ssibility of changes to project parameters as
plans continue to be refined, the ability to execute planned exploration and future drilling
programs, the need for additional funding to co ntinue exploration and development efforts,
changes in general economic, market and busi ness conditions, and those other risks set forth
in Wallbridge's most recent annual information form under the heading "Risk Factors" and in
its other public filings. Forward-looking statem ents are not guarantees of future performance
and such information is inherently subject to known and unknown risks, uncertainties and
other factors that are difficult to predict an d may be beyond the control of Wallbridge.
Although Wallbridge has attempted to identify important risks and factors that could cause
actual actions, events or results to differ materi ally from those described in forward-looking
statements, there may be other factors and risks that cause actions, events or results not to be
as anticipated, estimated or intended. Conseque ntly, undue reliance should not be placed on
such forward-looking statements. In addition, al l forward-looking statements in this press
release are given as of the date hereof.
Wallbridge disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new informatio n, future events or otherwise, save and except
as may be required by applicable securities laws . The forward-looking statements contained
herein are expressly qualified by this disclaimer.