Bridge Facility with Pala Investments
November 14, 2017 - Nevada Copper Corp. (TSX: NCU) (“Nevada Copper”) is pleased to announce that Pala Investments Limited, Nevada Copper’s largest shareholder, has made available a short-term bridging facility (the “Facility”) to Nevada Copper in the principal amount of US$3.5 million. The funds will be used to fund the completion of a feasibility study and related engineering work directed towards the construction of an underground project at Pumpkin Hollow, and for general working capital purposes. The Facility, which carries an interest rate of 7%, has a term of six months and may be repaid earlier without penalty.
As previously announced, Nevada Copper continues to progress advancement of a feasibility and technical study for the construction of a smaller-scale, lower capital cost and higher grade underground mine on the Pumpkin Hollow project. The feasibility study and associated technical report are expected to be completed shortly and Nevada Copper will provide an update to the market when they are finalized.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical factsare forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: the planned completion of further feasibility and technical studies in respect of the Pumpkin Hollow Project, and other plans of Nevada Copper Corp. (the “Company”) at the Pumpkin Hollow Project.
Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.
Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: history of losses; requirements for additional capital; dilution; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 29, 2017. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com.
The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
For further information call:
Eugene Toffolo, Corporate Communications
Toll free: 1-877-648-8266
Robert McKnight, P.Eng.,
Executive Vice President & CFO