Granite Creek Copper Receives Conditional Acceptance for $1,800,000 Equity Financing, New Copper Project Acquisition, Director Appointment, & TSX-V Reactivation
VANCOUVER, BC, CANADA, January 7, 2019 /EINPresswire.com/ — Granite Creek Copper Ltd. (TSX.V: GCX) (“Granite Creek” or the “Company”) is pleased to announce that it has received conditional TSX Venture Exchange (“TSXV”) acceptance for its previously announced corporate transactions consisting of a graduation to the TSXV, non-brokered private placement of up to $1,800,000, and the acquisition of the Stu Copper Project in Canada’s Yukon Territory. Completion of the transactions is expected to occur in, or about, mid-January, subject to Granite Creek fulfilling the TSXV’s customary closing conditions.
The Company also announces the appointment of Mr. John Cumming to its Board of Directors, effective January 4, 2018. Mr. Cumming, a corporate, securities and mining lawyer and businessman, has been active in the Canadian securities markets and resource exploration sector for 40 years. He was the Senior Securities and Mining Law Partner at a mid-sized Vancouver law firm until 1992, and was a founding shareholder of St. Philips Resources Inc. which, in joint venture with the Hunter Dickinson Group, discovered the Kemess Gold Copper Mine. Both joint venture companies were sold in 1996 in a $200 million take-over bid, and the Kemess Mine subsequently became the principal asset of Northgate Minerals Corporation. From 2005 to 2017 Mr. Cumming was Vice President and CFO of Merrex Gold Inc. during which tenure he was lead negotiator successfully concluding the earn-in option and joint venture deal with IAMGOLD Corporation on Merrex’s Siribaya gold project in Mali. The joint venture exploration team found the Diakha gold deposit at Siribaya and, in 2017, Mr. Cumming led the negotiations which culminated in the sale of Merrex to IAMGOLD.
"We are very pleased to achieve these key milestones”, commented Timothy Johnson, President and CEO, “and I encourage shareholders and interested investors to watch Granite Creek’s progress as we build a leading brownfields exploration company in the Yukon’s high-grade Carmacks Copper District. The addition of John Cumming to our Board adds significant additional depth of experience and demonstrable expertise to the Granite Creek team. We look forward to providing further updates in the coming weeks.”
FOR FURTHER INFORMATION PLEASE CONTACT:
Timothy Johnson, President
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
Metallic Group: www.metallicgroup.ca
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.
Granite Creek Copper
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Source: EIN Presswire