Previously, the Company issued 2,189,588 shares and 1,206, 957 share purchase warrants at a deemed value of $0.08 per share to settle outstanding debt of $175,167 to certain creditors of the Company. The Company is amending the number of shares to be issued so that 1,725,274 shares and 1,206,957 share purchase warrant at a deemed value of $0.08 per share will be issued to settle a total of $138,021, subject to TSX Venture Exchange approval. The decrease in the shares issuable is a result of the Company's failure to reach a final agreement with one of the creditors, the Company's former CFO and his related company. Consequently, the debt will remain in place, however the Company is investigating the merit of alleged debts being claimed and the circumstances around such debts being incurred.
All securities issued in connection with the shares for debt transaction are subject to a four month and a day hold period in accordance with applicable Securities Laws.
About Copper Creek Gold Corp - The Company is a Canadian-based mineral exploration company which has been active in the resource sector in British Columbia and elsewhere in Western Canada. The Company has recently opened up an exploration office in Santiago, Chile to review mineral exploration opportunities in Chile and elsewhere in South America.
On Behalf of the Board of Directors
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.
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.