CASCADERO CORPORATE UPDATE CASCADERO COPPER CORPORATION REINSTATED FOR TRADING – TIER 2 ISSUER On October 7th, the BC Securities Commission (BCSC) imposed a Cease Trade Order (CTO) on the Company’s shares citing the fact that the filing of audited statements was not accompanied by an auditor’s repor
(CCD: TSXV)
CASCADERO CORPORATE UPDATE
CASCADERO COPPER CORPORATION REINSTATED FOR TRADING – TIER 2 ISSUER
On October 7th, the BC Securities Commission (BCSC) imposed a Cease Trade Order (CTO) on the Company’s shares citing the fact that the filing of audited statements was not accompanied by an auditor’s report. The Company complied with all BCSC requests for information and the CTO was revoked on December 18th. There were no sanctions or fines imposed. On October 8th the TSX Venture Exchange sent the Company a letter and a reinstatement form that we filled out sent to the exchange on December 21st 2015 with the filing fee. The Company complied with all the requests from the Exchange and on March 3rd 2016 the Exchange advised the Company that trading would be reinstated in the week of March 7th 2016.
During this 133 day period, the Company completed the majority of its objectives that were outlined in a news release dated August 28th 2014 and mostly completed prior to November 30th 2015.
In May 2015, Coralbrook withdrew as a member of SESA Holdings LLC, which was a Joint Venture between the Company and a Brazilian funding partner. This meant the Company held a 100% interest in the Argentine assets of the Joint Venture and the consolidation of the Argentine subsidiary company accounts were consolidated with the parent Company accounts. All companies have the same fiscal year end.
In June 2015, the Company entered into an experimental Hydrometallurgical agreement with the University of British Columbia (UBC) with the objective of producing cesium hydroxide and cesium formate from drill core from the Taron cesium deposit in Argentina. The Taron deposit is a sediment hosted polymetallic epithermal mineral system that has low‐grade cesium and other recoverable elements. The novel experiment succeeded as both cesium compounds were produced. The results of the UBC Hydrometallurgical program have greatly improved the commercial prospects for the property.
In July 2015, the Company began the process of reorganizing its Argentine wholly owned subsidiaries and a restructuring of the property portfolio. By the end of August, the company had transformed its business model from exploration geology to a focus on developing one property, which is Taron. The Company also formed a new Canadian subsidiary which holds certain copper properties that are for sale.
In August 2015, the Company agreed to sell Salta Exploraciones S.A. to a Salta based mining and contracting services company. The sale closed on December 18th 2015.
In September 2015, the reorganization of the Company’s Argentine subsidiaries was agreed to and Bill McWilliam became the president of all the subsidiaries along with two Argentine directors common to each subsidiary. The appointments were not effective until January 2016.
In October 2015, the Company granted stock options to the new directors and advisors.
In November 2015, the Company entered into discussions with a global copper producing company with respect to a potential buy – sell agreement. The parties signed a Confidentiality Agreement. No monetary transaction has occurred to date.
In November 2015, the Company entered into discussions regarding a data transfer of certain properties owned by the Company. The parties signed a Confidentiality Agreement. No monetary transaction has occurred to date.
In December 2015, the Company sold a 25% interest in its Argentine Operating Joint Venture. A financing agreement was signed with Regberg Limited, a private company based in Singapore. The Company also granted Regberg the right to purchase an additional 5% interest in the Joint Venture for US$175,000. To date, Regberg has contributed US$600,000 to the Joint Venture of an agreed to US$1,025,000 including the exercise of the 5% option.
In December 2015, the Company appointed Mohammad Mokmeli Ph.D., to its advisory board. Mohammad designed and managed the flow sheet of the UBC Hydrometallurgical experiment, which identified the Taron cesium deposit as a potential source of cesium compounds in a variety of industrial applications globally.
In January 2016, the Company signed a Confidentiality Agreement with a chemical company and the parties agreed to a transfer of data on certain aspects of the Taron Hydrometallurgical program completed by UBC in December 2015.
On January 29th, 2016 Cascadero Copper Corporation applied for a United States Provisional Patent Application No.62/288,884 Filed January 29, 2016. “RECOVERY OF CESIUM FROM EPITHERMAL MINERAL DEPOSITS”
In February 2016, the Company engaged a geologist to compile a geological model of the Taron deposit which includes all data from regional prospecting, outcrop sampling, trench data and data from seven (7) drill holes. This work is required prior to starting a drill program to establish a NI 43‐101 compliant resource.
In early March 2016, the Company entered into discussions with a Geological Consulting company to compile data and to prepare summary internal reports on each of the Company’s 19 properties, excepting Taron, with a view to generating option agreements with third parties on each property.
Cascadero’s Argentine subsidiaries have a 100% interest in a 19‐property portfolio. The properties are grouped in five different areas of north western Argentina wholly within the province of Salta. Five (5) of the 19 properties are prospective for gold. Once the Company has secured a development path for Taron, it will focus on the Company’s gold assets.
Cascadero management is confident that 2015 was the Company’s most important year of operation to date. The ground work is in place to enable rapid growth of the Companies assets. We thank everyone who contributed to the Company’s substantial progress in 2015 and great respect to our patient shareholders.
Bill McWilliam President Cascadero Copper Corporation O = 604.924.5504 C = 604.999.0391 [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.