C3 Metals sells its interest in the Rogers Creek copper project in British Columbia
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Toronto, Ontario – (Newsfile Corp. – October 1, 2021) – C3 Metals inc. (TSXV: CCCM) (“C3 Metals” or the “Company”) is pleased to announce that it has entered into a purchase and sale agreement with Tocvan Ventures Corp. (CSE: TOC) (OTCQB: TCVNF) (FSE: TV3) (WKN: A2PE64) (“Tocvan”) pursuant to which Tocvan will acquire the Company’s 100% interest in the Rogers Creek property located in British Columbia ( the “Purchase and Sale Agreement”). Previously, Tocvan held an option to acquire an interest of up to 80% in the Rogers Creek property from C3 Metals.
Pursuant to the purchase and sale agreement, Tocvan will acquire a 100% interest in the Rogers Creek property and the previous option agreement will terminate. In consideration for entering into the purchase and sale agreement, C3 Metals will receive 500,000 common shares of Tocvan and will retain a 2% NSR royalty on the Rogers Creek property, of which 1% may be repurchased for $ 1 million. C3 Metals will also receive common shares of Cascade Copper Corp. (“Cascade Copper”) (described below) valued at $ 75,000, based on the pre-listing financing price, and once listed on the Canadian Securities Exchange (CSE).
Tocvan, subject to shareholder and regulatory approval, will transfer 100% of the Rogers Creek property to Cascade Copper, a newly formed company, which will focus on copper porphyry exploration assets in southern British Columbia.
Kevin Tomlinson, President and CEO of C3 Metals said: “This sale to Tocvan will continue the company’s strategy of monetizing the value of its secondary assets. It will also give Tocvan and its future spin-off a quality project to explore and create additional value for its shareholders.
For more information, contact:
President and CEO
Vice-President, Investor Relations
+1 416 572 2512
ABOUT C3 MÉTAUX INC.
C3 Metals Inc. is a Canadian exploration company focused on the discovery and development of large copper-gold deposits with properties in Peru, Jamaica and Canada.
The Company’s flagship project is the Jasperoide high copper-gold skarn and porphyry system located in the prolific Andahuaylas-Yauri mineral belt of southern Peru. The mineralization at Jasperoide is hosted in a geological setting similar to that of the large neighboring mining operations of Las Bambas (MMG), Constancia (Hudbay) and Antapaccay (Glencore). Drilling began in February 2021, returning high grade copper-gold mineralization over significant thicknesses. The current program has been expanded to test several geophysical targets.
In Jamaica, the Company’s 100% licenses cover 207 km2 very promising copper-gold ground where several porphyries have been delineated. The Company is advancing fieldwork in new areas of interest. In Canada, C3 Metals owns a 100% stake in the 91 km2 Mackenzie Porphyry Copper-Gold Project in the Cascade Magma Arc in southwestern British Columbia.
Related link: www.c3metals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Stephen Hughes, P.Geo. is Vice-President Exploration and Director of C3 Metals and is a Qualified Person as defined by National Instrument 43-101. Mr. Hughes has reviewed the technical information contained in this press release and approves the written disclosure contained therein.
Caution Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “may”, “intention”, “expect”, “believe”, “will”, “proposed”, “estimated” and similar expressions and statements relating to Matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions about the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information relating, among other things, to the Company’s exploration operations and the schedule that could be affected by the current global COVID-19 pandemic. These assumptions and factors are based on information currently available to the Company. Although these statements are based on reasonable assumptions of the management of the Company, there can be no assurance that the conclusions or forecasts will prove to be correct.
Although the Company considers these assumptions to be reasonable on the basis of currently available information, they may prove to be inaccurate. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by forward-looking information. These factors include the risks inherent in the exploration and development of mineral deposits, including the risks associated with changes in project parameters as plans continue to be redefined, risks associated with variations in grade. or recovery rates, risks associated with changes in mineral prices and global demand. for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, dependence on key personnel, operational and regulatory risks, including risks associated with the acquisition of necessary licenses and risks relating to permits, financing, capitalization and liquidity.
The forward-looking information contained in this press release is made as of the date hereof, and the Company is not obligated to update or revise the forward-looking information, whether as a result of new information, future events or otherwise. , except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained in this document, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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