Toronto, Ontario--(Newsfile Corp. - March 15, 2020) - Carube Copper Corp. (TSXV: CUC) (the "Company") is pleased to report the results from its Annual General and Special Meeting (the "Meeting") held in Toronto, Ontario, on February 28, 2020. Approximately 24% of the record date outstanding shares of the Company were represented at the Meeting by proxy or in person. All of the matters submitted to the shareholders for approval set forth in the Company's Notice of Meeting and Information Circular dated January 16, 2020, were approved by approximately 94% or more of votes cast; including the re-election of Tony Manini, Alar Soever, Zimi Meka, Stephen Hughes and Yale Simpson and the election of Kimberly Ann Arntson as directors.
The appointment of PricewaterhouseCoopers LLP as auditors was confirmed. The Stock Option Plan and the reservation for issuance of the maximum number of shares permitted under the plan was approved by approximately 94% of disinterested votes cast at the Meeting. The resolution to change the Company's name to C3 Metals Inc. was approved by more than 96% of the votes cast at the Meeting.
Following the Meeting, the board of directors confirmed the appointment of Company officers as follows:
- Mr. Antony Manini, B.Sc. (Hons), FAusIMM, FSEG, Executive Chairman, Director
- Mr. Stephen Hughes, B.Sc. (Geology), President and Chief Executive Officer
- Mr. Jeffrey Ackert, B.Sc. (Geology), VP Business Development
- Mr. John McNeice, CA, CPA, Chief Financial Officer
- Mr. Chris Irwin, B.A., LL.B., Corporate Secretary and Counsel
Warrant extension
The Company also announces that it intends to extend the expiry dates of a total of 24,029,750 warrants which are exercisable to purchase common shares of the Company at a price of $0.10 per share, subject to the approval of the TSX Venture Exchange. The warrants were issued under a private placement with closings on March 22, 2018 and March 29, 2018. The expiry dates will be extended by a one-year period to March 22, 2021 and March 29, 2021. All other terms and conditions of the warrants remain unchanged. The Company will not issue replacement warrant certificates and warrantholders will be required to present the original certificates in order to exercise their warrants on or before the new expiry dates.
About Carube Copper
Carube Copper is focused on creating substantive long-term value for its shareholders through the discovery and development of world class copper and gold deposits. Carube Copper recently concluded the acquisition of Latin America Resource Group Ltd. and now holds 5,700 hectares of copper and gold skarn licences in southern Peru. These licences are located in the very prospective Andahuaylas-Yauri belt, an emerging porphyry copper province that is host to several producing mines. Carube currently holds a 100% interest in 5 licenses covering 207 km2 of highly prospective copper-gold terrain in Jamaica, a 100% interest in two porphyry copper-gold properties covering 337 km2 within the Cascade Magmatic Arc in southwestern British Columbia and a 100% interest in the 46 km2Stewart Brook gold project in the Meguma gold belt of Nova Scotia. Carube is actively searching for additional high potential copper and gold properties to add to its portfolio.
Tony Manini, Executive Chairman
+1 (647) 953-5924 • tmanini@carubecopper.com
Jeff Ackert, Vice President, Business Development
+1 (647) 957-2249 • jackert@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=122102
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