VANCOUVER, Aug. 28, 2015 /CNW/ - Catalyst Copper
Corporation (TSX-V: CCY) ("Catalyst" or "the Company")
announces that further to its press release of August 18, 2015 it has closed the non-brokered
private placement of 3,300,000 units at a price of $0.10 per unit (increased by 300,000 units) for
gross proceeds of $330,000. Each unit
consists of one common share and one common share purchase warrant.
Each common share purchase warrant is exercisable for one common
share of the Company at a price of $0.15 for a period of five years from closing.
Proceeds from the private placement will be used for general
working capital purposes.
As prescribed the by the TSX Venture Exchange and applicable
securities laws, the securities (and all underlying securities)
issued in the private placement are subject to a four month
hold period expiring on December 29,
2015.
About Catalyst Copper:
Catalyst Copper Corporation is
a copper and base metal company with a focus on copper mining
projects in Mexico. The Company's
60%-owned La Verde Copper Project (remaining 40%-owned indirectly
by Teck Resources Limited) is situated in the Sierra Madre del Sur
approximately 320 kilometres west of Mexico City in Michoacán State and
has excellent infrastructure. The amended September 30, 2012 Preliminary Economic
Assessment contemplates La Verde
to be an open pit producing over 200 million pounds of copper per
year over a 20 year mine life.
Certain information contained in this press release constitutes
forward-looking statements. All statements, other than
statements of historical facts, are forward looking statements
including statements with respect to the Company's intentions for
the use of the non-brokered private placement and the La Verde
Copper project in Michoacán State, Mexico including, without limitation, expected
future mineral production and mine life. Forward-looking
statements are often, but not always, identified by the use of
words such as may, will, seek, anticipate, believe, plan, estimate,
budget, schedule, forecast, project, expect, intend, or similar
expressions.
The forward-looking statements are based on a number of
assumptions which, while considered reasonable by Catalyst, are
subject to risks and uncertainties. In addition to the
assumptions herein, these assumptions include the assumptions
described in Catalyst's management's discussion and analysis for
the year ended December 31, 2014
("MD&A"). Catalyst cautions readers that forward-looking
statements involve and are subject to known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements to differ materially from those
expressed in or implied by such forward-looking statements and
forward-looking statements are not guarantees of future results,
performance or achievement. These risks, uncertainties and factors
include general business, economic, competitive, political,
regulatory and social uncertainties; actual results of exploration
activities and economic evaluations; fluctuations in currency
exchange rates; changes in project parameters; changes in costs,
including labour, infrastructure, operating and production costs;
future prices of copper and other minerals; variations of mineral
grade or recovery rates; operating or technical difficulties in
connection with exploration, development or mining activities,
including the failure of plant, equipment or processes to operate
as anticipated; delays in completion of exploration, development or
construction activities; changes in government legislation and
regulation; the ability to maintain and renew existing licenses and
permits or obtain required licenses and permits in a timely manner;
the ability to obtain financing on acceptable terms in a timely
manner; contests over title to properties; employee relations and
shortages of skilled personnel and contractors; the speculative
nature of, and the risks involved in, the exploration, development
and mining business; and the factors discussed in the section
entitled "Risk Factors" in the MD&A.
Although Catalyst has attempted to identify important risks,
uncertainties and other factors that could cause actual
performance, achievements, actions, events, results or conditions
to differ materially from those expressed in or implied by the
forward-looking information, there may be other risks,
uncertainties and other factors that cause performance,
achievements, actions, events, results or conditions to differ from
those anticipated, estimated or intended. Unless otherwise
indicated, forward-looking statements contained herein are as of
the date hereof and Catalyst disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable law.
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.
SOURCE Catalyst Copper Corp.