PUMA Exploration Announces the Completion of Canadian Copper Common Shares Distribution
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
NEWS RELEASE
PUMA EXPLORATION ANNOUNCES THE COMPLETION OF CANADIAN COPPER
COMMON SHARES DISTRIBUTION
Rimouski, July 14, 2022 – Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the " Company" or
"Puma") is pleased to announc e that the distribution of common shares of Canadian Copper Inc.
("Canadian Copper") (formerly Melius Metals Corp.) occurred as planned on June 30, 2022.
More particularly, i n connection with a reduction of its stated capital in an amount of CAD$1.5M,
which is based on the anticipated listing price of CAD$0.25 of Canadian Copper on the Canadian
Stock Exchange (the "CSE") and was approved by the shareholders of the Company at a special
meeting held on March 9, 2022 (see News Release dated March 10, 2022), the Company has:
(a) distributed 5,635,905 common shares of Canadian Copper that were previously issued to the
Company (the "Distribution") to all of its shareholders other than its beneficial shareholders who
are residents of the United States (the "U.S. Shareholders") and who were of record on June 17,
2022 (the "Record Date"); and
(b) paid in cash, $69,340.21 in U.S. dollars (CAD$91,014.02), the amount otherwise payable to the
U.S. Shareholders who were of record as of the Record Date in connection with such reduction
of stated capital (the "Cash Payment").
The final exchange ratio (0.053897) related to the Distribution was defined using the number of
Canadian Copper shares to be distributed (6,000,000) divided by the total of Puma 's share
outstanding after the Record Date (111,322,658).
Following the Distribution, Canadian Copper expects to meet the CSE public distribution requirements
and be in a position for final approval for listing on the CSE. Canadian Copper has received
conditional approval from the CSE to list its common shares on the CSE under the ticker "CCI", subject
to the satisfaction of the public distribution requirements and final approval from the CSE. The listing
price of CCI is expected to be CAD$0.25. A date for trading will be determined upon confirmation of
the conditions being met by the CSE.
Puma has also received the " Listing" shares certificate for 6,000,000 Canadian Copper shares. The
shares are held in escrow and will be delivered over three (3) years until July 12, 2025. Puma 's total
current Canadian Copper holding of 6,364,095 CCI shares represents 9.58% of Canadian Copper Inc.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
As per the Option Agreement, Puma granted Canadian Copper the option to acquire 100% of its
Copper Projects in consideration of CAD$3.5M payable by issuing an initial 12M Canadian Copper
shares at a deemed value of CAD $0.10. The remaining CAD$2.3M is payable in cash or Canadian
Copper shares over 3 years.
ABOUT CANADIAN COPPER INC.
Canadian Copper is a Canadian -based mineral exploration company with a copper and base
metals portfolio of historical resources and grassroots projects. The Company is focused on the prolific
Bathurst Mining Camp (BMC) of New Brunswick, Canada.
For more information, please contact:
Simon Quick,
Director and CEO, (905) 220-6661
ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian -based mineral exploration company with precious metals projects
located near the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The Company is
committed to its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate
maximum value for shareholders with low share dilution.
Connect with us on Facebook / Twitter / LinkedIn
Visit www.explorationpuma.com for more information or contact:
Marcel Robillard,
President, (418) 750-8510;
Mia Boiridy,
Head of Investor Relations and Corporate Development, (250) 575-3305;
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this
release.
PUMA TSXV
175, rue Legaré | Rimouski (Québec) G5L 3B9 www.explorationpuma.com
Forward-Looking Statements: This press release may contain forward -looking statements. Such
forward-looking statements involve a number of known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of Puma to be materially
different from actual future results and achievements expressed or implied by such forward -looking
statements.
Readers are cautioned not to place undue reliance o n these forward -looking statements, which
speak only as of the date the statements were made, except as required by law. Puma undertakes
no obligation to publicly update or revise any forward -looking statements. These risks and
uncertainties are described in the quarterly and annual reports and in the documents submitted to
the securities administration.