CopperBank Issues Stock Options, Issues Shares For Debt and Announces Loan
CSE: CBK FSE: 9CP OTC: CPPKF
FOR IMMEDIATE RELEASE February 24, 2017
(CBK 2017 – NR #02)
CopperBank Issues Stock Options, Issues Shares For Debt
and Announces Loan
Vancouver, Canada – February 24, 2017 – CopperBank Resources Corp. (“CopperBank” or the
“Company”) (CSE:CBK) announces that it has granted an aggregate of 6,650,000 incentive stock
options (the “Options”), with an exercise price of $0.10, to Officers, Directors, Consultants and
Advisors. The Options can be exercised for a period of five years from the date of grant, are
subject to the policies of the Canadian Securities Exchange and contain vesting provisions
whereby 25% of the Options vest six months from date of grant and 25% every six months there-
after.
The Company also announces that Executive Chairman, Gianni Kovacevic, is loaning the com-
pany $400,000 on a convertible basis, for a period of up to two years from today’s date. When
the loan is satisfied it will be facilitated by way of private placement into shares of the company at
a deemed value of $0.08 per share. There is no collateral or covenants for this loan, nor any fees,
interest, warrants or bonus shares being paid to Mr. Kovacevic. Proceeds will be used for general
working capital and to assist in the further evaluation of potential work programs at the company’s
three 100% controlled projects.
Mr. Kovacevic comments. “We are very proud to have such a distinguished group of advisors
align themselves with CopperBank stakeholders. Our technical team is now ten people strong as
we contemplate accretively moving our portfolio of established copper projects forward. This mod-
est injection of capital is only 3% dilutive to existing shareholders. On a stand alone basis it affords
the company all the needed resources for basic G&A through the early part of 2019 as we finalize
the direction and manner for meaningful work programs at each of Contact, Pyramid and San
Diego Bay. With copper prices rebounding there is significant investor interest in companies with
strong technical teams who have well located projects. We encourage all our shareholders to
carefully review the company’s latest presentation to see how we are well positioned for this in-
terest.”
The Company also announces that a total of CDN $90,000 owed to company management and
one consultant has been settled in common shares in the company at a deemed price of 0.10 per
share. A total of 900,000 shares will be issued to settle this amount and will have a four month
hold from date of issuance. The convertible loan and shares for debt arrangements are subject to
Canadian Securities Exchange approvals and policies.
On behalf of CopperBank Resources Corp.
“Gianni Kovacevic”
Executive Chairman
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: [email protected]
Website: www.copperbankcorp.com
Certain information in this release may constitute “forward-looking information” under applicable securities laws and
necessarily involve risks and uncertainties. Forward-looking information included herein is made as of the date of this
news release and CopperBank does not intend, and does not assume any obligation, to update forward-looking infor-
mation unless required by applicable securities laws. Forward-looking information relates to future events or future
performance and reflects management of CopperBank’s expectations or beliefs regarding future events. In certain
cases, forward-looking information can be identified by the use of words such as “plans”, or “believes”, or variations of
such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be
taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. Examples of forward-looking
information in this news release include, but are not limited to, statements with respect to the Company’s ongoing
review of its existing portfolio, the involvement of CopperBank in any potential divestiture, spin-out, partnership or other
transactions involving the Company’s portfolio assets, and the ability of the Company to complete any such transac-
tions, the ability of CopperBank to enter into transactions that will ultimately enhance shareholder value, and the antic-
ipated issuance of one million shares in connection with the satisfaction of certain loans between CopperBank and
management. This forward-looking information is based, in part, on assumptions and factors that may change or prove
to be incorrect, thus causing actual results, performance or achievements to be materially different from those ex-
pressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to the
Company’s ability to identify and complete one or more transactions involving the Company’s portfolio assets that
enhance shareholder value as part of management’s ongoing review of strategic alternatives in the current market
conditions. By its very nature, forward-looking information involves known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by forward-looking information. Such factors include, but
are not limited to, the risk that the Company will not be able to identify and complete one or more transactions involving
the Company’s portfolio assets that enhance shareholder value as part of management’s ongoing review of strategic
alternatives in the current market conditions. Although CopperBank has attempted to identify important factors that
could cause actual actions, events or results to differ materially from forward-looking information, there may be other
factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance
that forward-looking information will prove to be accurate, as actual results and future events could differ materially
from those anticipated by such forward-looking information. Accordingly, readers should not place undue reliance on
forward-looking information. For more information on CopperBank and the risks and challenges of its businesses, in-
vestors should review the continuous disclosure filings that are available under CopperBank’s profile at
www.sedar.com.