News Release – Vancouver, British Columbia – August 6, 2024: CopAur Minerals Inc. (“CopAur” or the “Company”) (TSXV: CPAU) (OTCQX:COPAF) is pleased to announce that the TSX Venture Exchange (“TSXV”) has approved the $1 million loan to the Company by an arm’s length lender (the “Lender”) that was previously announced on July 26, 2024 (the “Loan“). The Loan will bear simple interest of 1% per month (12% per annum) and has a six-month term. The Company may repay the Loan at any time prior to its maturity with a minimum payment of three months interest. If the Company sells any of its assets, including the marketable securities it holds in another TSXV issuer, or completes a private placement prior to the repayment of the Loan, the Company will apply the net proceeds from the sale of assets or from the private placement, after the payment of regulatory and legal costs to complete the sale or private placement, to repay the Loan principal and outstanding interest before being applied to any other corporate purposes.
The Company will issue an aggregate of 2,500,000 share purchase warrants (the “Bonus Warrants”) to the Lender as a bonus inducement for providing the Loan. Each Bonus Warrant will entitle the Lender to purchase one common share of the Company at an exercise price of C$0.20 for a period of 12 months from the date of issuance. The Bonus Warrants are subject to an acceleration right in favour of the Company. Where the closing price (or closing bid price on any day where no shares trade) of the Company’s common shares on the TSXV exceeds $0.45 per share for a minimum of five consecutive trading days, the Company may provide written notice to the Lender requiring it to exercise the Bonus Warrants within 30 days following the date of delivery of such written notice, at which time any unexercised Bonus Warrants will expire.
The Loan terms also provide that if the Company conducts a private placement of its securities prior to the maturity of the Loan, subject to TSX Venture Exchange approval, the Lender will have a right to provide notice to the Company that it wishes to enter into a debt settlement for securities of the Company concurrent with the private placement (“Debt Settlement”) and to specify the amount of the Loan the Lender wishes to be repaid in securities by the Debt Settlement. The outstanding balance of the Loan will be reduced by the amount of the Debt Settlement.
The Company plans to use the proceeds of the Loan for general working capital purposes and to pay the cash consideration payable to Nevada Sunrise Metals Corporation (TSXV: NEV) (OTCBB: NVSGF) to purchase Nevada Sunrise’s 18.74% ownership interest in the Kinsley Mountain Gold Project in Nevada (“Kinsley Acquisition“). The balance of the consideration payable to Nevada Sunrise consists of the issuance of 1,000,000 common shares of the Company. If the Kinsley Acquisition is completed, CopAur will own 100% of the Kinsley Mountain Gold Project. See the Company’s news release disseminated on July 8, 2024 for further information about the Kinsley Acquisition.
About CopAur
CopAur is an exploration company focused on developing projects within the emerging, mineral-rich mining regions of Nevada. The Company is backed by a dynamic and experienced team of resource professionals advancing its projects in Nevada with the flagship project being Kinsley Mountain Gold Project, a Carlin-style project located 90 kilometres south of the Long Canyon mine (currently in production under the Newmont/Barrick joint venture, Nevada Gold Mines).
For more information, please contact:
CopAur Minerals Inc.
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Email: jeremyy@CopAur.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 news release.
Forward Looking Information
This news release contains forward-looking statements. These statements relate to future events or the Company’s future performance, including the Company’s plans to borrow the Loan and issue the Bonus Warrants, as well as the Company’s intention to complete the Kinsley Acquisition, including the obtaining and timing of TSXV approval. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revised any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.