Candente Copper Announces Officer Resignation and Settlement of Debt
VANCOUVER, British Columbia, March 16, 2018 (GLOBE NEWSWIRE) -- Candente Copper Corp. (TSX:DNT) (BVL:DNT) ("Candente” or the “Company”) announces the resignation of Mr. Sean Waller P.Eng. from his position as President of the Company to pursue other opportunities, effective March 7, 2018. Mr. Waller will remain as a Member of the Board of Directors of Candente and will serve as a Key Technical Advisor to the Cañariaco Project in Peru. Mr. Waller joined Candente in 2008 and served as President since 2009. During his tenure with the Company, Mr. Waller oversaw the engineering and economic assessment of the Cañariaco Norte project, establishing Cañariaco as a very economically robust, large scale copper project. Joanne Freeze, P.Geo., CEO and Director of Candente, will assume the role of President.
“The Company would like to thank Mr. Waller for all of the valuable contributions made during his tenure as President and we look forward to continuing to work together to advance the Cañariaco project,” commented Joanne Freeze.
The Company also announces the settlement of Cdn$490,717 of debt to creditors (including amounts written off and the amount to be settled by shares) with the issuance of an aggregate of 3,216,023 common shares, subject to receipt of regulatory approval. Of this total, insiders, Sean Waller and Faisel Hussein are to receive 1,000,000 and 710,986 shares respectively in settlement of debt owing to them.
About Candente Copper
Candente Copper is a mineral exploration company engaged in acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.
Joanne C. Freeze, P.Geo., CEO, and Michael Thicke, P.Geo, are the Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. They have reviewed and approved the contents of this release.
This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente Copper relies upon litigation protection for forward-looking statements.
On behalf of the Board of Candente Copper Corp.
“Joanne C. Freeze” P.Geo.
President, CEO and Director
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For further information please contact:
Joanne C. Freeze, P.Geo.
President, CEO and Director
info@candentecopper.com
www.candentecopper.com
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