Chakana Copper Corp. Completes $10MM Financing
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DISSEMINATION IN THE UNITED STATES
REMO RESOURCES INC.
1430-800 West Pender Street, Vancouver, BC V6C 2V6
Telephone: (604) 638-8063; Fax: (604) 648-8105
NEWS RELEASE
CHAKANA COPPER CORP. COMPLETES $10MM FINANCING
Vancouver, B.C., November 13, 2017 – Remo Resources Inc. (TSX-V: RER) (the
“ Company ” or “ Remo ”) is pleased to announce, further to the Company’s news release of
October 6, 2017 in respect of a proposed reverse ta ke-over (the “ Proposed Transaction ”) with
Chakana Copper Corp. (“ Chakana ”), that Chakana has completed a non-brokered priva te
placement of common shares and subscription receipt s for total aggregate gross proceeds of
C$10,000,000 (the “ Offering ”).
The completion of the Offering satisfies a conditio n precedent of the Proposed Transaction that
Chakana complete a financing for gross proceeds of a minimum of $4,000,000
Pursuant to the Offering, Chakana issued a total of 8,602,500 common shares for aggregate
proceeds of $4,301,250 and 11,397,500 subscription receipts (the “ Subscription Receipts ”) for
aggregate proceeds of $5,698,750.
The Subscription Receipts will convert, without pay ment of any additional consideration and
without any further action required by the subscrib ers, upon the satisfaction of certain escrow
release conditions (the “ Escrow Release Conditions ”), including satisfaction of the conditions
precedent to the closing of the Proposed Transactio n, into an aggregate of 11,397,500 common
shares of Chakana. Pursuant to the Proposed Transa ction all of the Chakana common shares
issued in the Offering and the Chakana common share s issued upon conversion of the
Subscription Receipts will be exchanged for post-co nsolidation common shares of the Company.
In connection with the Offering, Chakana paid finde rs fees to a group of finders, including
Eventus Capital Corp., consisting of the payment of aggregate cash fees of $323,487.50, the
issuance of 170,715 common shares of Chakana and th e issuance of an aggregate of 817,690
common share purchase warrants, with each whole com mon share purchase warrant entitling the
holder thereof to purchase one additional common share of Chakana at an exercise price of $0.50
per common share at any time up until two years fro m the date of the closing of the Offering
[NTD: There will be at least two closing dates, so these won’t all actually be the same date.].
Pursuant to the Proposed Transaction, the warrants issued to the finders will be exercisable for
post-consolidation common shares of Remo upon closing of the Proposed Transaction.
Chakana intends to use the proceeds of the Offering , including the proceeds of the sale of
subscription receipts upon the satisfaction of the Escrow Release Conditions to fund the
continuing 16,500m phase 1 drill program at Chakana ’s Soledad copper gold project located in
Peru and for general working capital purposes.
Additional information in respect of the Proposed T ransaction and the Offering will be included
in Remo’s filing statement to be filed in connectio n with the Proposed Transaction and which
will be available on Remo’s SEDAR profile at www.sedar.com.
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For further information please contact Remo Resourc es Inc. - Stephen Kenwood, President and
CEO at (604) 638-8063 or Chakana Copper Corp. – Dav id Kelley, President and CEO (720)
233-2166
ON BEHALF OF THE BOARD
(signed) “ Stephen Kenwood ”
Stephen Kenwood
President and CEO
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 or accuracy of this release.
Completion of the Proposed Transaction is subject t o a number of conditions, including but not
limited to, Exchange acceptance and if applicable p ursuant to Exchange Requirements, majority
of the minority shareholder approval. Where applic able, the Proposed Transaction cannot close
until the required shareholder approval is obtained . There can be no assurance that the
Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed i n the management information circular or
filing statement to be prepared in connection with the Proposed Transaction, any information
released or received with respect to the Proposed T ransaction may not be accurate or complete
and should not be relied upon. Trading in the secu rities of a capital pool company should be
considered highly speculative.
The Exchange has in no way passed upon the merits o f the Proposed Transaction and has
neither approved nor disapproved the contents of this press release .
This news release contains forward-looking statemen ts relating to the timing and completion of
the Proposed Transaction, the future operations of the Company, Chakana, and the Resulting
Issuer and other statements that are not historical facts. Forward-looking statements are often
identified by terms such as "will", "may", "should" , "anticipate", "expects" and similar
expressions. All statements other than statements o f historical fact, included in this release,
including, without limitation, statements regarding the Proposed Transaction and the future
plans and objectives of the Company, Chakana, and t he Resulting Issuer are forward-looking
statements that involve risks and uncertainties. Th ere can be no assurance that such statements
will prove to be accurate and actual results and fu ture events could differ materially from those
anticipated in such statements. Important factors t hat could cause actual results to differ
materially from the Company's, Chakana’s, and the R esulting Issuer’s expectations include the
failure to satisfy the conditions to completion of the Proposed Transaction set forth above and
other risks detailed from time to time in the filin gs made by the Company, Chakana, and the
Resulting Issuer with securities regulations.
The reader is cautioned that assumptions used in th e preparation of any forward-looking
information may prove to be incorrect. Events or ci rcumstances may cause actual results to
differ materially from those predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the control of the Company,
Chakana, and the Resulting Issuer. As a result, the Company, Chakana, and the Resulting Issuer
cannot guarantee that the Proposed Transaction will be completed on the terms and within the
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time disclosed herein or at all. The reader is caut ioned not to place undue reliance on any
forward-looking information. Such information, although considered reasonable by management
at the time of preparation, may prove to be incorre ct and actual results may differ materially
from those anticipated. Forward-looking statements contained in this news release are expressly
qualified by this cautionary statement. The forward -looking statements contained in this news
release are made as of the date of this news releas e and the Company, Chakana, and the
Resulting Issuer will update or revise publicly any of the included forward-looking statements as
expressly required by Canadian securities law.