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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Columbus Copper Corp    CCU   CA19890A2092

COLUMBUS COPPER CORP

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Columbus Copper Corp : Columbus Copper Announces Share Exchange With Global Resources Investment Ltd.

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11/14/2013 | 09:48am EST

November 14, 2013
Columbus Copper Announces Share Exchange With Global Resources Investment Ltd.

Vancouver, B.C., November 14, 2013 - Columbus Copper Corporation (CCU: TSX-V) (formerly Empire Mining Corporation) ("Columbus Copper") is pleased to announce it has settled on terms to undertake a private placement with Global Resources Investment Ltd. ("GRIL"). Columbus Copper is seeking to raise approximately CDN$960,000 through the sale of 16,000,000 common shares at a deemed price of $0.06 per share. No warrants will be issued in connection with this transaction.

GRIL has been established to exploit investment opportunities in the junior mining and natural resources sectors worldwide, with an investment objective to generate medium and long-term capital growth. GRIL will re-register as a public company and be constituted as an investment trust with the name Global Resources Investment Trust Plc. ("GRIT") and seek admission of its ordinary shares on the main market for listed securities on the London Stock Exchange.

In consideration for acquiring the Columbus Copper common shares, GRIT will issue and deliver to Columbus Copper 579,395 ordinary shares of GRIT at deemed price of £1.00 per share (the "GRIT Shares"). Columbus Copper will then sell the GRIT Shares through the facilities of the London Stock Exchange to realize the private placement proceeds.

A finder's fee of 8% in common shares will be payable to Jordan Capital Markets Inc. for introducing Columbus Copper and assisting in negotiating the transaction with GRIL.

Closing of the transaction is subject to a number of conditions precedent, including approval of the TSX Venture Exchange and GRIT successfully listing on the London Stock Exchange.

ON BEHALF OF THE BOARD

Robert F. Giustra
Chairman

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.

For more information contact:

Investor Relations
604-634-0970 or
1-888-818-1364
info@columbusgroup.com

This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting the sale of the GRIT Shares by Columbus Copper and the expected price per share to be received from such sale. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements. Without limitation, there is no assurance that (i) Columbus Copper will be able to close the proposed share swap with GRIT on the terms outlined above, or at all; (ii) Columbus Copper will realize at least £1.00 per GRIT Share upon the sale thereof; and (iii) Columbus Copper will realize proceeds from the sale of the GRIT Shares in a timely manner. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the ability to close the proposed share swap on the terms outlined above and the market for the resale of the GRIT Shares. The foregoing list is not exhaustive. Although Columbus Copper has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be 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. Columbus Copper undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

You can view the Previous News Releases item: Wed Oct 23, 2013, Columbus Copper Completes AGM and Announces New VP Legal & Corporate Secretary

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Managers
NameTitle
Robert F. Giustra Chairman
Damyan Hristov Chief Operating Officer
Akbar Hassanally Chief Financial Officer
Jorge Martinez Vice President-Communications & Technology
Michael Stephen Johnson Independent Director
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