Kutcho Copper Amends Convertible Loan Agreement and Receives Credit Facility from Wheaton Precious Metals
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Kutcho Copper Corp. | 717 – 1030 West Georgia Street | Vancouver, British Columbia | Canada | V6E 2Y3
Telephone: (604) 628‐5623 | www.kutcho.ca
Kutcho Copper Amends Convertible Loan Agreement and Receives Credit Facility from
Wheaton Precious Metals
Vancouver, B.C., November 25th, 2019. Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF) (“Kutcho
Copper” or the “Company”) announces that Wheaton Pr ecious Metals Corp. (“Wheaton”) has agreed to
amend the terms (the “Amendment”) of its $20 million convertible debenture investment (the “Original
Debenture”) in Kutcho Copper that closed on December 14, 2017. Wheaton and Kutcho Copper have agreed
that the 2 year interest deferral provided in the Orig inal Debenture may, at the election of Kutcho Copper,
be extended for 4 years. Wheaton has also agreed to the removal of th e ability to convert a portion of
deferred interest into Kutcho Copper shares. Kutc ho has received conditional approval from the TSX
Venture Exchange for the Amendment. For more information regarding the Original Debenture, please see
the Company’s October 31, 2017 and December 15, 2017 news releases.
Wheaton has also agreed to make a non-revolving term loan available to the Company for up to $1,300,000
CAD (the “Credit Facility”) with a maturity date of December 31, 2020. Advances under the Credit Facility
will be used by the Company if needed and solely fo r certain costs and expenses in connection with the
Kutcho project. The credit facility will bear interest at the rate of 15% per annum. Closing of the Credit
Facility, and any advance thereunder, is subject to cu stomary closing conditions, including the delivery of
security.
Vince Sorace, President and CEO of Kutcho Copper st ates, “Wheaton continues to show their support for
the Kutcho project by allowing us to defer interest pa yments due under the convertible debenture, as well
as provide us with additional capital to help advance the Kutcho project. The Company appreciates their
commitment and validation to this great project as we move towards Feasibility”.
Wheaton holds approximately 10.48% of the Company’ s outstanding shares pursuant to various prior
transactions with Kutcho Copper, as announced in the fa ll of 2017 and which closed December 14, 2017.
Accordingly, the Credit Facility a nd the Amendment may be considered to be related party transactions
under Multilateral Instrument 61-101, but are exemp t from the valuation requirements of MI 61-101
because Kutcho Copper is listed on the TSX Venture Ex change (subsection 5.5(b) of MI 61-101) and the
minority shareholder approval requirements because the Credit Facility does not have an equity component
(subsection 5.7(f) of MI 61-101) and the Amendment (and the fair market value of the consideration
thereunder) is less than 25% of the Company’s market capitalization (subsection 5.7(a) of MI 61-101).
About Kutcho Copper Corp
Kutcho Copper Corp. is a Canadian resource development company focused on expanding and
developing the Kutcho high grade copper-zinc project in northern British Columbia. Committed to social
responsibility and the highest environmental standards, the Company intends to progress the Kutcho
Project through feasibility and permitting to a positive construction decision.
Vince Sorace
President & CEO, Kutcho Copper Corp.
For further information regarding Kutcho Copper Corp., please email [email protected] or visit our website
at www.kutcho.ca.
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Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking statements” with respect to the
Company within the meaning of applicable securities laws, including statements with respect to the Company’s future
operational plans, estimated mineral resources and mineral reserves, the timing and amount of estimated production,
costs of production, capital expenditures, commodity price assumptions, the Company’s ability to successfully obtain
all regulatory approvals and permits to commence and conduct mining operations, environmental risks and title
challenges. Forward-looking statements are statements that are not historical facts and are generally, but not always,
identified by the words “expects”, “pla ns”, “anticipates”, “believes”, “i ntends”, “estimates”, “projects”,
“potential” and similar expr essions, or that events or conditions “will” , “would”, “may”, “c ould” or “should”
occur. Although the Company believes th e expectations expressed in such forw ard-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and
uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such
material risks and uncertainties include, but are not limited to, the Company’s ability to obtain all requisite approvals,
including approval of the TSX Venture Exchange and securities regulatory authorities, if required for a transaction
or financing, the Company’s ability to raise sufficient capita l to fund its obligations under its property agreements
going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop the Kutcho
project or its other projects, to repay its debt and for general working capital purposes; changes in economic
conditions or financial markets; the inherent hazards associates with mineral exploration, and mining operations,
future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and
reserve estimates, the ability of the Com pany to obtain the necessary permits and consents required to explore, drill
and develop the Kutcho project and if obtained, to obtain such permits and consents in a timely fashion relative to the
Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral
resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s
operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation
and accommodation, dependence on key management personnel and general co mpetition in the mining industry.
Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s
management on the date the statements are made. Except as required by law, the Company undertakes no obligation
to update these forward-looking statemen ts in the event that manag ement’s beliefs, estimates or opinions, or other
factors, should change.