Catalyst Copper Appoints New Directors and CEO and Announces Non-Brokered Private Placement
/NOT FOR DISTRIBUTION TO A US NEWSWIRE SERVICE OR FOR DISSEMINATION IN THE UNITED STATES/
Trading Symbol: CCY
VANCOUVER, Aug. 29, 2014 /CNW/ - Catalyst Copper Corp. ("Catalyst" or the "Company") (TSX VENTURE:CCY) announces that Richard Warke, Frank Giustra and Ian Telfer have been appointed to the Board of Directors. Mr. Warke has also been appointed as CEO and President of the Company. David Laing and Matthew Lawson have tendered their resignations and the Board wishes to thank Messrs. Laing and Lawson for their past services and wish them every success in their future endeavours.
The Company also announces a non-brokered private placement of up to 2,100,000 units at a price of $0.30 per unit for gross proceeds of up to $630,000 to be subscribed for by the three new directors. Each unit will consist of one common share and one full common share purchase warrant. Each whole common share purchase warrant will be exercisable at $0.40 per common share for a period of 3 years from closing. Proceeds will be used for general working capital and to explore other potential opportunities.
About Catalyst Copper:
Catalyst Copper Corp. is a copper and base metal company with a focus on copper mining projects in Mexico. Our current focus is the La Verde copper property, which is situated in the Sierra Madre del Sur approximately 320 kilometres west of Mexico City in Michoacán State with excellent infrastructure: roads, rail, water and power. Lazaro Cardenas, Mexico's third largest port on the Pacific Ocean is 180 km from the site. A 43-101 Technical Report dated September 30, 2012 on the La Verde property is filed on Sedar.
ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.
Richard Warke – CEO, President & Director
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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.
SOURCE Catalyst Copper Corp.For further information: Please contact the Company: (604) 609-6110