A total of 85,214,269 common shares of the Company, representing 31.20% of the Company’s outstanding common shares, were represented at the Special Meeting. A total of 78,735,458 common shares (92.4%) voted in favour of the Private Placement with Fortescue while a total of 6,478,811 common shares (7.6%) voted against. The Private Placement was required to be approved by over 50% of the votes cast by disinterested shareholders at the Special Meeting, excluding Fortescue.
The Company anticipates that it will complete the Private Placement on or about
About
The company's Preliminary Economic Assessment (“PEA”), delivered
The PEA also highlights that the Cañariaco Sur deposit has an inferred resource containing 2.2 billion pounds of copper; 1.2 million ounces gold; 15 million ounces of silver and 18.9 million pounds of Moly within 385 million tonnes with a copper equivalent grade of 0.26%.
Please refer to the technical report dated
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements, including, but not limited to, statements with respect to the planned closing of the Private Placement. These forward-looking statements are made as of the date of this press release. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the ability to obtain necessary regulatory approval. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements.
Known risk factors include risks associated with exploration and project development; the need for additional financing; the calculation of mineral resources; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; government regulation; obtaining and renewing necessary licenses and permits; environmental liability and insurance; reliance on key personnel; local community opposition; currency fluctuations; labour disputes; competition; dilution; the volatility of our common share price and volume; future sales of shares by existing shareholders; and other risk factors described in the Company’s annual information form and other filings with Canadian securities regulators, which may be viewed at www.sedar.com. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
On behalf of the Board of
For further information please contact:
jfreeze@candente.com
or
gtbonifacio@candente.com
1 604 689 1957
info@candentecopper.com
www.candentecopper.com
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