VANCOUVER, B.C. Catalyst Copper Corp. (TSXV: CCY) (the “Company” or Catalyst) is undertaking a non- brokered private placement (the “Offering”) of up to 33,500,000 units at a price of $0.105 per unit for gross proceeds of Cdn $3,517,500.
Each unit will consist of one common share and one half of a common share purchase warrant. Each whole warrant will entitle its holder to purchase one additional common share of the Company for five years from the closing date, at a price of $0.25 per common share. The common shares issued under the Offering will be subject to a four-month hold period from the date of closing. A finders fee on the gross proceeds may be paid in accordance with TSX-Venture Exchange policy.
The Company intends to use the net proceeds of the Offering to complete the remainder of its financial commitments to acquire an interest in the La Verde copper project and for general working capital.
The Offering is subject to receipt of the acceptance of the TSX Venture Exchange.
About La Verde
La Verde is located in an area with excellent infrastructure. Power, rail and water all cross the property. Lazaro Cardenas, Mexicos third largest port on the Pacific Ocean coast is 180 km from the site. Significant upside potential remains for the two known zones of porphyry style copper, gold, silver and molybdenum mineralization.
La Verde property is subject to an option agreement with a Mexican subsidiary of Teck Resources Limited (Teck), further details are available on the Companys website at www.catalystcopper.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.
“John W. Greenslade“
JOHN GREENSLADE, PRESIDENT, CEO & DIRECTOR
For further information please contact Corporate Communications Officer: Denby Greenslade (604) 638-5900.
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 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.
