Toronto, Ontario--(Newsfile Corp. - March 16, 2018) - Carube Copper Corp. (TSXV: CUC) (the "Company") announces today that the Company will settle certain indebtedness by issuing common shares at a deemed price of $0.06 per share in lieu of cash to Irwin Professional Corporation in the amount of $119,438 (1,990,634 shares); and, Alar Soever in the amount of $29,271 (487,854 shares). The Company will also settle certain indebtedness by issuing common shares at a deemed price of $0.0546 per share in lieu of cash to Wallbridge Mining Company Ltd. in the amount of $293,204 (5,367,266 shares). These debt settlements will enable the Company to immediately apply more resources to its aggressive exploration programs in Jamaica. The settlements are subject to the approval of the TSX Venture Exchange and upon issuance, the shares will be subject to a four month hold period.
About Carube Copper
Carube is focused on the exploration and development of copper and gold projects in Jamaica and Canada. In Jamaica, Carube Copper holds a 100% interest in 11 licenses, totalling 535 square kilometres. In Canada, it holds a 100% interest in three porphyry copper-gold-molybdenum properties, totalling 492 square kilometres within the Tertiary-aged Cascade Magmatic Arc in southwestern British Columbia.
Contacts
Tony Houston, Interim CEO and President • thouston@carubecopper.com
Jeff Ackert, Vice President, Business Development • 1-647-957-2249 • jackert@carubecopper.com
www.carubecopper.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Corp. provides no assurance that actual results will meet management's expectations. Factors which cause results to differ materially are set out in the Company's documents filed on SEDAR. Undue reliance should not be placed on "forward looking statements".
IMPORTANT NOTICE: Carube Copper hereby incorporates the entire disclaimer set forth on its website at http://www.carubecopper.com/uploads/1/6/5/2/16521880/disclaimers-and-forward-statements.pdf?v=112109