| | Published : January 13th, 2012 | Announces Shares For Debt Agreement |
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Friday, January 13, 2012 Copper Fox Announces Shares For Debt Agreement
Vancouver, British Columbia - January 13, 2012 -Copper Fox Metals Inc. ("Copper Fox" or "the Company") (TSX-V: CUU) announces that it has entered into an agreement with Mr. Ernesto Echavarria to settle $1,400,000 of debt by way of issuance of 1,272,727 common shares of Copper Fox to Mr. Echavarria at an issue price of $1.10. No warrants were issued in respect of the shares for debt transaction. Mr. Echavarria is a director, an insider, and a control person of Copper Fox, as defined by the regulations of the TSX Venture Exchange, and has from time to time made advances to Copper Fox, as required, interest free and with no set terms of repayment. Completion of the debt settlement with Mr. Echavarria is subject to the approval of the TSX Venture Exchange. In accordance with applicable securities legislation, the securities issued pursuant to the debt settlement are subject to a hold period of four months plus one day from the date of completion of the debt settlement. About Copper FoxThe Company is working on completing a feasibility study on the Schaft Creek deposit, one of the largest undeveloped copper, gold, silver and molybdenum deposits in North America. The feasibility study is being led by Tetra Tech WEI Inc. on a minimum 120,000 tpd open pit mine and is expected to be completed during the first quarter of 2012. Copper Fox holds title and a 100% working interest in a contiguous 21,024.96 hectare (51,954 acre) property which includes the Schaft Creek deposit subject to a 3.5% net profits interest held by Royal Gold, Inc., a 30% carried interest held by Liard Copper and an earn back option held by Teck Resources Limited ("Teck"). Copper Fox is currently earning a 78% interest in Liard Copper from Teck. Teck's earn back option to acquire 20%, 40% or 75% of the Copper Fox interest in the Schaft Creek project is triggered upon completion of a positive feasibility study. Should Teck elect to exercise its option for 75% they are required to fund subsequent property expenditures up to a total of 400% of those incurred by Copper Fox ($70.8 million as of October 31, 2011) and arrange for project financing, including the Copper Fox portion. For full details of the option please refer to the Company's website www.copperfoxmetals.com. In March 2011, the Company acquired mineral claims located adjacent to the Schaft Creek property totalling 2,978.32 hectares (7,360 acres) (the "March 2011 Mineral Claims") which are subject to a 2% Net Smelter Return ("NSR"). Copper Fox has the option to repurchase, at any time, one-half of the NSR on the March 2011 Mineral Claims for a total purchase price of $3 million. In September 2011, the Company acquired mineral claims located adjacent to the Schaft Creek property totalling 6,115.11 hectares (15,111 acres) (the "September 2011 Mineral Claims") which are subject to a 2% NSR. Copper Fox has the option to repurchase, at any time, one-half of the NSR on the September 2011 Mineral Claims for a purchase price of $1 million. The March 2011 Mineral Claims and the September 2011 Mineral Claims are subject to inclusion with the Schaft Creek project under the terms of the Area of Interest provisions of the Teck Option Agreement. Additionally Copper Fox holds mineral claims totaling 3,947.06 hectares (9,753 acres) in the Liard Mining District of BC not subject to the Teck earn-back. For additional information contact: Investor line 1-866-913-1910 or J. Michael Smith, EVP, at 1-604-689-5080 On behalf of the Board of Directors Elmer B. Stewart President & Chief Executive Officer Neither 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. Cautionary Note Regarding Forward-Looking InformationThis news release contains "forward-looking information" within the meaning of the Canadian securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about the completion of the shares for debt transaction with Mr. Echavarria, the completion of the Feasibility Study; potential existence and size of mineralization within the Schaft Creek project; estimated timing and amounts of future expenditures and "earn-back" options; geological interpretations and potential mineral recovery processes. Information concerning mineral reserve and resource estimates also may be deemed to be forward-looking information in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined.
In connection with the forward-looking information contained in this news release, Copper Fox has made numerous assumptions, regarding, among other things: the geological, metallurgical, engineering, financial and economic advice that Copper Fox has received is reliable, and is based upon practices and methodologies which are consistent with industry standards; and the continued financing of the Feasibility Study; and the anticipated analytical results of the current drilling program. While Copper Fox considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause Copper Fox's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the shares for debt transaction may not complete and/or may not be approved by the TSX Venture Exchnage; another deposit may never be discovered on Copper Fox's property, or contain anticipated mineralization, or mineralization of any significance at all; the Feasibility Study may not be completed within the contemplated time frame, or at all; the possibility that the analytical results from the core sampling does not return significant grades of copper mineralization; the possibility that future drilling on the Schaft Creek project may not occur on a timely basis, or at all; fluctuations in copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, and estimated economic return; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals
A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
You can also view this News Release on our website at: http://www.copperfoxmetals.com/s/NewsReleases.asp?ReportID=501740
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Copper Fox Metals Inc.
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DEVELOPMENT STAGE |
CODE : CUU.V |
ISIN : CA21749Q1046 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Copper Fox is a copper development stage company based in Canada. Copper Fox develops copper, gold, molybdenum and silver in Canada. Its main asset in development is SCHAFT CREEK in Canada. Copper Fox is listed in Canada. Its market capitalisation is CA$ 119.8 millions as of today (US$ 87.3 millions, € 79.5 millions). Its stock quote reached its highest recent level on April 21, 2011 at CA$ 2.63, and its lowest recent point on March 13, 2020 at CA$ 0.01. Copper Fox has 427 809 984 shares outstanding. |
Annual reports of Copper Fox Metals Inc. |
Financings of Copper Fox Metals Inc. |
7/1/2016 | Announces Closing of the Second placement |
4/8/2013 | Announces Closing of a $2,653,000 Financing |
2/22/2013 | announces a $2,500,000 Private Placement Unit Offering, insi... |
1/22/2013 | ANNOUNCES the Closing of a $1,500,000 Financing by an Inside... |
1/16/2013 | Announces a $1,500,000 Private Placement Unit Offering, Insi... |
1/16/2013 | Announces a $1,500,000 Private Placement Unit Offering, Insi... |
10/24/2012 | ANNOUNCES the Closing of a $2,500,000 Financing by an Inside... |
9/14/2012 | Announces the Closing of a $4,025,000 Financing by an Inside... |
7/23/2012 | ANNOUNCES a $4,025,000 Private Placement Unit Offering, Insi... |
6/18/2012 | Announces A $4,480,000 Private Placement Unit Offering Insid... |
1/30/2012 | Announces The Closing Of $2,200,000 Financing By An Insider |
1/19/2012 | Announces a $2,200,000 Private Placement Unit Offering Insid... |
12/14/2011 | Announces the Closing of $4,000,000 Financing by an Insider |
12/7/2011 | Announces Increase of $2,000,000 to previously announced Pri... |
10/5/2011 | Announces the Closing of $5,000,000 Financing by an Insider |
9/13/2011 | Announces an Additional $2,000,000 Private Placement Unit Of... |
9/8/2011 | announces a $3,000,000 Private Placement Unit Offering. Ins... |
3/31/2011 | ANNOUNCES THE ACCELERATION TERM TO BE APPLIED TO THE EXPIRY ... |
3/17/2011 | CLOSING OF A $3,750,000 NON BROKERED PRIVATE PLACEMENT FLOW-... |
2/17/2011 | Announces a $3,750,000 Non Brokered Private Placement Flow-T... |
10/22/2009 | closing of a $2,000,000 Private Placement Unit Offering |
9/28/2009 | $2,000,000 Private Placement |
6/23/2009 | Provides Update on its $6,000,000 Private Placement |
6/19/2009 | Updates on its $6,000,000 private placement |
6/2/2009 | announces a $6,000,000 non-brokered Private Placement of whi... |
12/16/2008 | Announces the Withdrawal of a Private Placement Financing |
11/7/2008 | ANNOUNCES PRIVATE PLACEMENT FINANCING |
11/7/2008 | Announces Private Placement Financing |
5/15/2008 | closes Non Brokered Private Placement Financing of $12,398,2... |
7/17/2007 | to raise $10,000,000 in flow-through and non-flow-through fu... |
7/17/2007 | Intends to offer a brokered private placement |
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Option Grants of Copper Fox Metals Inc. |
Nominations of Copper Fox Metals Inc. |
Financials of Copper Fox Metals Inc. |
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Project news of Copper Fox Metals Inc. |
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Corporate news of Copper Fox Metals Inc. |
6/29/2016 | Copper Fox Announces 2016 Second Quarter Financial Results |
6/10/2016 | Copper Fox Announces a $1,000,000 Non-Brokered Private Place... |
3/31/2016 | Copper Fox Announces 2016 First Quarter Financial Results |
3/30/2016 | Copper Fox Annnounces 2016 Schaft Creek Program |
1/25/2016 | Copper Fox Announces Mineral Mountain Copper Project in Ariz... |
12/24/2015 | Copper Fox Files Van Dyke Technical Report on SEDAR |
12/22/2015 | Copper Fox Announces $1,650,000 Non-Brokered Private Placeme... |
11/6/2015 | Copper Fox Provides Update of Activities |
9/29/2015 | Copper Fox Announces Third Quarter Results |
9/25/2015 | Copper Fox Extends Size of Exploration Target on Sombrero Bu... |
9/8/2015 | Copper Fox Reports Large Chargeablity Signature on Sombrero ... |
7/28/2015 | Copper Fox Provides Update of Activities |
7/13/2015 | Copper Fox Commences Titan-24 DCIP Survey at Sombrero Butte ... |
4/15/2015 | Copper Fox Announces Preliminary Results of Metallurgical Te... |
4/8/2015 | Copper Fox Announces Commencement of Preliminary Economic As... |
3/31/2015 | Copper Fox Annnounces First Quarter Results |
3/17/2015 | Copper Fox Annnounces 2015 Schaft Creek Program |
3/13/2015 | Copper Fox Receives $3.63 Million Cash Refund |
3/12/2015 | Copper Fox Extends Warrant Expiry Dates and Announces AGM Da... |
2/27/2015 | Copper Fox Announces Annual Results |
2/9/2015 | Copper Fox Updates Schaft Creek Project Activities |
2/3/2015 | Copper Fox Files Van Dyke Technical Report on SEDAR |
1/15/2015 | Copper Fox Completes Top-Up Investmentin Carmax Mining Corp. |
12/24/2014 | Copper Fox Provides Corporate Update on Project Activities |
12/19/2014 | Copper Fox Completes Inferred Mineral Resource Estimate for ... |
12/3/2014 | Copper Fox Announces Preliminary In-Situ Leach Test Results ... |
10/28/2014 | Copper Fox Announces Commencement of Resource Estimate at Va... |
10/23/2014 | Copper Fox Announces Update on Schaft Creek Project |
9/25/2014 | Copper Fox Completes Top-Up Investment in Carmax Mining Corp... |
9/23/2014 | Copper Fox Announces Third Quarter Results |
9/10/2014 | Copper Fox Announces Van Dyke Drill Results and Provides Oth... |
8/7/2014 | Copper Fox Announces Van Dyke Drill Results and Provides Cor... |
7/21/2014 | Copper Fox Completes Van Dyke Drilling Program and Provides ... |
6/18/2014 | Copper Fox Announces Second Quarter Results |
5/29/2014 | Copper Fox Closes Carmax Investment |
5/23/2014 | Copper Fox Announces Carmax Shareholders Approve Private Pla... |
5/15/2014 | Copper Fox Adds Second Drill to Van Dyke Project and Provide... |
12/3/2013 | s Activities on Van Dyke Copper Deposit in Arizona |
11/19/2013 | Sampling locates two large areas of porphyry style copper-mo... |
8/30/2013 | announces a corporate reorganization |
8/12/2013 | provides update on corporate activities |
7/16/2013 | (Schaft Creek)And Teck Resources Form Schaft Creek Joint Venture |
6/5/2013 | (Schaft Creek)provides update on discussions regarding Schaft Creek |
2/7/2013 | (Schaft Creek)Completes Land Acquisitions at Schaft Creek & Sombrero Butte... |
1/17/2013 | Announces Extension Of Expiry Date Of Certain Stock Options |
10/17/2012 | (Schaft Creek)Reports Diamond Drill Results From the 2012 Drilling Program... |
9/25/2012 | (Schaft Creek)Reports the Status of the Schaft Creek Feasibility Study and... |
9/25/2012 | (Schaft Creek)Reports the Status of the Schaft Creek Feasibility Study and... |
9/4/2012 | Drilling Indicates Widespread Mineralization in the Discover... |
8/2/2012 | (Schaft Creek)Drilling Extends Mineralization In Discovery Zone And Acquir... |
2/16/2012 | (Schaft Creek)Locates a New Zone of Copper Mineralization 1,200M North of ... |
1/23/2012 | Announces The Issuance Of 1,272,727 Shares For Outstanding ... |
1/13/2012 | Announces Shares For Debt Agreement |
9/6/2011 | (Schaft Creek)Drilling Intersects 0.81% Copper Equivalent Over 154m at Sch... |
7/11/2011 | (Schaft Creek)Measured and Indicated Resource Estimate Exceeds 1 Billion T... |
6/21/2011 | (Schaft Creek)High Resolution Magnetic Survey at Schaft Creek Confirms Sim... |
4/13/2011 | Announces Completion of 3D Model and Award of High-Resolutio... |
4/13/2011 | ANNOUNCES COMPLETION OF 3D MODEL AND AWARD OF HIGH-RESOLUTIO... |
6/17/2010 | June 17 2010 news release |
6/1/2010 | June 1 2010 News release |
2/2/2010 | Feb 2 2010 news release |
1/21/2010 | Jan 21, 2010 |
10/23/2009 | New release attached |
10/22/2009 | announces the closing of a $2,000,000 Private Placement Unit... |
9/17/2009 | Applauds Federal Government’s Support for British Columbia N... |
9/17/2009 | Applauds Federal Government's Support for British Columbia N... |
7/13/2009 | Special Shareholders Meeting Approves a New control Person -... |
7/13/2009 | July 13, 2009 News release |
6/30/2009 | Three and Six Months Ended April 30, 2009 |
6/26/2009 | June 25, 2009 news release |
3/3/2009 | Annual Financial |
2/27/2009 | Feb 26, 2009 News release |
2/27/2009 | Lions Gate Metals Inc. and Copper Fox Metals Inc. Announce B... |
2/12/2009 | Correct News release |
2/12/2009 | Feb 11 09 News release |
2/12/2009 | provides an update of Corporate Activities |
2/3/2009 | Highway 37 Power Line Coalition Applauds Premier for Express... |
1/22/2009 | Cambridge House Invitation - Vancouver |
12/18/2008 | December 17 2008 News release |
12/18/2008 | Announces Resignation Of A Director |
9/30/2008 | Sept 30/08 |
9/29/2008 | Applauds Advancement of Northwest Power Line |
9/29/2008 | Applauds Advancement of Northwest Power Line |
9/26/2008 | Northwest Power Line Could Create Thousands of Jobs, Attract... |
9/17/2008 | Schaft not Galore says Copper Fox president |
9/2/2008 | LV Hard Assets Conference Personalized Html |
7/17/2008 | from the Ministry of Energy, Mines and Petroleum Resources r... |
6/26/2008 | June 26 2008 Options |
6/26/2008 | June 26, 2008 |
5/26/2008 | Register Today for a Discounted Rate to the New Orleans 2008... |
4/4/2008 | Applauds Advancement of Northwest Power Line Study |
3/31/2008 | $16mm offering |
11/15/2007 | announces the renewal of the engagement of Jason Shepherd fo... |
10/12/2007 | Announces is has earned a 70% Direct Interest in the World C... |
10/2/2007 | $400 million to empower B.C.'s far northwest |
8/8/2007 | Drilling to Commence at Copper Flats |
7/12/2007 | Press Release: Augusta Files Plan of Operations for Rosemont... |
7/3/2007 | 2nd Quarter Financials |
6/11/2007 | announces its request for a trading halt |
5/4/2007 | and the Tahltan Nation Development Corporation complete a "M... |
4/22/2007 | Adopts a Shareholder Rights Plan. |
2/27/2007 | Welcomes New Executive to the Team |
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