Interra Copper Announces Securities For Debt Settlement
CSE: IMCX WWW.INTERRACOPPERCORP.COM
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FOR DISSEMINATION IN THE UNITED STATES
INTERRA COPPER ANNOUNCES SECURITIES FOR DEBT SETTLEMENT
January 16, 2024, VANCOUVER, British Columbia – Interra Copper Corp. (CSE: IMCX) (FSE:
3MX) ("Interra" or the "Company") announces that it has entered into a securities for debt
settlement agreement dated January 15, 2024 (the "Agreement") with a professional advisor
of the Company.
Pursuant to the Agreement, the Company has agreed to settle debt in the amount of
$34,723.05 through the issuance of 138,892 units (each, a “Unit”) at a deemed price of $0.25
per Unit, whereby each Unit shall be comprised of one (1) common share in the capital of
the Company (each a “ Share”) and one half (1/2) of one (1) Share purchase warrant (each
whole, being a “ Warrant”). Each Warrant will be convertible into an additional Share (a
“Warrant Share”) at an exercise price of $0.35 per Warrant Share and will expire on the date
that is three (3) years following the date of issuance (the “Expiry Date”). The Expiry Date shall
be subject to acceleration where the volume -weighted average trading price of the
Company’s common shares on the Canadian Securities Exchange is equal to or greater than
$0.45 for a continuous 30-day period at any time after that date which is 4 months following
their date of issue in which case the Expiry Date of the Warrants shall automatically
accelerate and the Warrants will expire on that date which is 30 days after the date on which
notice of such acceleration event is provided to the holder.
The Agreement and the issuance of the securities thereunder are subject to the approval of
the CSE. The securities will be subject to a hold period of four months and one day pursuant
to CSE policies and applicable securities laws.
On behalf of the Board of Interra Copper Corp.
Rick Gittleman
Interim CEO & Chairman
For further information contact:
Katherine Pryde
Investor Relations
+1 (778) 949-1829
Forward Looking Information
This news release contains certain "forward -looking information" and "forward -looking
statements" (collectively "forward -looking statements") within the meaning of applicable
securities legislation. Forward -looking statements are frequently, but not always , identified by
words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible",
and similar expressions, or statements that events, conditions, or results "will", "may", "could",
or" should" occur or be achieved. All statements, other than statements of historical fact, included
herein, without limitation, statements relating to the debt settlement transaction and the receipt
of all necessary regulatory and other approvals, are forward -looking statements. There can be
no assurance that such statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in s uch statements. Forward-looking statements
reflect the beliefs, opinions and projections on the date the statements are made and are based
upon a number of assumptions and estimates that, while considered reasonable by Interra, are
inherently subject to si gnificant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and unknown, could cause actual
results, performance or achievements to be materially different from the results, performance
or achievements that are or may be expressed or implied by such forward -looking statements
and the parties have made assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation, the ability of the Company to obtain the
necessary approvals in connection with the Agreement and the transactions contemplated
thereby, the ability to complete exploration work, the results of exploration, continued availability
of capital, and changes in general economic, market and business conditions. Readers should
not place undue reliance on the forward -looking statements and information contained in this
news release concerning these items. Interra does not assume any obligation to update the
forward-looking statements of beliefs, opinions, projections, or other factors, should they
change, except as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of
this press release, and does not accept responsibility for the adequacy or accuracy of this release.