Warrants Exercised for Gross Proceeds of Cdn$534,435
January 25 2021 - 7:30AM
Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente Copper”,
“Company”) is pleased to announce that several investors have
exercised or have agreed to exercise warrants to purchase an
aggregate up 5,556,500 common shares of which 4,859,000 had an
exercise price of Cdn$0.09 and 697,500 had an exercise price of
Cdn$0.15. The gross proceeds to the company from the exercise of
these warrants is Cdn$534,435 which will give the Company a current
balance of Cdn$900,000.
Candente Copper is now funded to consider some
additional engineering studies for certain aspects of development
such as a smaller, higher grade, start up option for the Cañariaco
Norte project. In the meantime, the Company has also initiated the
application process for renewed drilling permits which would allow
completion of geotechnical drilling at Cañariaco Norte as well as
resource drilling at Cañariaco Sur and exploration drilling at
Quebrada Verde. The timeline for such permits is being reviewed
with ministry representatives.
The Company now has 10,059,385 warrants
outstanding at an exercise price of Cdn$0.15 which will expire on
July 29th, 2021 and Sept 14th, 2021 and with the exercises
mentioned above the Company will have 250,896,768 common shares
outstanding.
About Candente CopperCandente
Copper is a mineral exploration company engaged in the acquisition,
exploration, and development of mineral properties. The Company is
currently focused on its 100% owned Cañariaco project, which
includes the Feasibility stage Cañariaco Norte deposit as well as
the Cañariaco Sur deposit and Quebrada Verde prospect, located
within the western Cordillera of the Peruvian Andes in the
Department of Lambayeque in Northern Peru.
Please see
https://www.candentecopper.com/investors/presentations for details
from previous resource and engineering studies which delineated 9B
lbs copper, 2M oz gold and 54M oz silver in: Measured and Indicated
Resources of 752.4 million tonnes grading 0.45% copper, 0.07 grams
per tonne (“g/t”) gold and 1.9 g/t silver (0.52% Cu equivalent)
containing 7.533 B lb Cu, 1.67 M oz Au and 45.24 M oz Ag and
Inferred Resources of 157.7 million tonnes grading 0.44% copper,
0.06 g/t gold and 1.8 g/t silver containing 1.434 B lb Cu, 0.3M oz
Au and 8.932 M oz Ag.
Details from the Cañariaco Norte Copper Project Pre-Feasibility
Study Progress Report available at
https://www.candentecopper.com/site/assets/files/5389/canariaco-pfs.pdf
estimate NPVs and IRRs of $1.06B and 17.5% at $2.50 Cu and $1.56B
and 21.5% at $2.90 Cu. The Incentive Price for Cañariaco Norte is
in the lowest quartile of top 84 copper projects worldwide named by
Goldman Sachs. Cash Costs are also in lowest quartile of the copper
industry.
Joanne C. Freeze, P.Geo., CEO, is the Qualified
Person as defined by National Instrument 43-101 for the projects
discussed above. She has reviewed and approved the contents of this
release.This news release may contain forward-looking statements
including but not limited to comments regarding timing and content
of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements. Candente Copper relies upon litigation protection for
forward-looking statements.
On behalf of the Board of Candente
Copper Corp.
“Joanne C. Freeze” P.Geo.President, CEO and
Director___________________________________For further information
please contact:
info@candentecopper.comwww.candentecopper.com
NR-125
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