Candente Copper Arranges Bridge Loan
April 29 2022 - 06:00AM
Candente Copper Corp. (TSX:DNT, BVL:DNT, US:CCOUF) ("Candente
Copper” or the “Company") is pleased to advise that the Company has
arranged a bridge loan in the aggregate principal amount of CDN$1
million from an arm’s length individual investor (the “Lender”) for
a twelve-month term at 10% to be repaid on maturity.
“This bridge loan was organized to allow
sufficient time to explore several financing options that have been
presented to the Company. Over the course of the next several
weeks, Candente Copper and its advisors will assess and evaluate
the financing offers received to date,” states Joanne Freeze,
Company President and CEO. “The results of the recently published
Preliminary Economic Assessment have generated several financing
options that will further allow for the de-risking of the Cañariaco
Project in Peru by advancing engineering and environmental studies
and further drilling, all of which will lead to a publication of a
feasibility study.”
About Candente Copper
The Company’s flagship project is Cañariaco,
within which Cañariaco Norte, is the 10th largest late-stage copper
resource in the world and 6th highest in grade (RFC Ambrian,
December 2021 and Haywood, December 2021). In addition to Cañariaco
Norte, the Cañariaco Project, includes the Cañariaco Sur deposit
and Quebrada Verde prospect, all within a 4km NE-SW trend in
northern Peru’s prolific mining district.
The Company is very pleased to now have
Cañariaco Norte included in 4 research reports that compare various
global copper projects. RFC Ambrian: Cañariaco
Norte in top 10 of 23 projects with potential to involve third
party M&A (December 2021); Haywood: Cañariaco
Norte is one of 18 assets selected as likely to be considered by
majors looking to acquire (December 2021); Deutsche
Bank: Cañariaco Norte identified as one of 3 projects
required to meet the upcoming copper supply-demand gap (February
2021); Goldman Sachs: Cañariaco Norte identified
with incentive copper price in the lowest quartile of the top 84
copper projects worldwide (October 2018).
Joanne Freeze, P.Geo., President, CEO, Director
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 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 potential acceptance of the
additional financing offer. 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 of
the Company and Lind to negotiate the terms of the definitive
funding agreement, variations in market conditions; the nature,
quality and quantity of any mineral deposits that may be located;
metal prices; other prices and costs; currency exchange rates; the
Company’s ability to obtain any necessary permits, consents or
authorizations required for its activities; the Company’s ability
to access further funding and produce minerals from its properties
successfully or profitably, to continue its projected growth, or to
be fully able to implement its business strategies. 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.
CAUTIONARY NOTE TO U.S. INVESTORSWe advise U.S.
investors that this news release uses terms defined in the 2014
edition of the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM) “CIM Definition Standards on Mineral Resources and
Mineral Reserves”, as incorporated by reference in Canadian
National Instrument 43-101 “Standards of Disclosure for Mineral
Projects”, for reporting of mineral resource estimates. These
Canadian standards, including NI 43-101, differ from the
requirements of the United States Securities and Exchange
Commission (SEC) as set forth in the mining disclosure rules under
Regulation S-K subpart 1300 (S-K 1300). S-K 1300 uses the same
terminology for mineral resources, but the definitions are not
identical to NI 43-101 and CIM Definition Standards. S-K 1300 uses
the term “initial assessment” for an evaluation of potential
project economics based on mineral resources. This study type has
some similarities to a Preliminary Economic Assessment, but the
definition and content requirements of an initial assessment are
not identical to the definition and content requirements for a PEA
under NI 43-101.
On behalf of the Board of Candente
Copper Corp.
“Joanne C. Freeze” P.Geo., President, CEO and
Director
For further information please contact:Jonathan
PatersonJonathan.Paterson@HarborAccessllc.com+1 475 455
9401
info@candentecopper.comwww.candentecopper.com
NR-150
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