Chakana Announces Filing of Annual and Q1 Financial Statements and Md&a
NEWS RELEASE
CHAKANA ANNOUNCES FILING OF ANNUAL AND Q1 FINANCIAL
STATEMENTS AND MD&A
Vancouver, B.C., November 18, 2019 – Chakana Copper Corp. (TSX-V: PERU; OTCQB:
CHKKF; FWB: 1ZX) (the “ Company ” or “ Chakana ” ) has filed its annual audited financial
statements for the year ended May 31, 2019 and inte rim financial statements for the three months
ended August 31, 2019, the accompanying management’ s discussion and analysis, and the related
CEO and CFO certifications (the “ Filings ”).
On October 1, 2019, the British Columbia Securities Commission, as principal regulator, granted
a temporary management cease trade order (the “ MCTO ”) in accordance with National Policy
12-203. As previously announced, the Company requir ed additional time to file the Filings in
order for the Company to restate certain prior year balances due to the identification of late
payments included in the opening balances from the prior fiscal year and additional time for the
Company and its auditors to complete its review and substantive audit procedures of certain
discrepancies in its expenditures. Upon the filing of the Filings, the Company believes that it has
resolved all discrepancies and restatements and has satisfied the conditions of the British
Columbia Securities Commission in order to have the MCTO lifted. For additional information,
readers are referred to the Company’s management’s discussion and analysis for the year ended
May 31, 2019 (www.sedar.com).
The Company announces that effective November 14, 2 019, 4,000,000 common shares of the
Company were returned to treasury and cancelled. P lease refer to notes 20 and 28 of the
Company’s annual audited financial statements for t he year ended May 31, 2019 for further
details.
About Chakana Copper Corp
Chakana Copper Corp is a Canadian based minerals exploration company and through its wholly
owned Peruvian subsidiary, Chakana Resources S.A.C., is currently advancing the Soledad
project near Aija, in the Ancash region of the highly prolific Miocene mineral belt of Peru.
ON BEHALF OF THE BOARD
(signed) “ David Kelley ”
David Kelley
President and CEO
For further information contact:
Michelle Borromeo, Manager – Corporate Communicatio ns
Phone: 604-715-6845
Email: [email protected]
- 2 -
Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy o r accuracy of this release.
Forward-looking Statement Advisory: This release ma y contain forward-looking statements. Forward-looki ng
statements involve known and unknown risks, uncerta inties, and other factors which may cause the actua l results,
performance, or achievements of Chakana to be mater ially different from any future results, performanc e, or
achievements expressed or implied by the forward-lo oking statements. Forward looking statements or inf ormation
relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-
silver project (the “Project”), the potential to expand th e mineralization, and to develop and grow a resourc e
within the Project, the planning for further explor ation work, the ability to de-risk the potential ex ploration targets,
and our belief in the potential for mineralization within unexplored parts of the Project. These forwa rd-looking
statements are based on management’s current expect ations and beliefs but given the uncertainties, ass umptions and
risks, readers are cautioned not to place undue rel iance on such forward- looking statements or inform ation. The
Company disclaims any obligation to update, or to p ublicly announce, any such statements, events or de velopments
except as required by law.