Fabled Copper Corp. Closes Acquisition of ChurchKey Property
Vancouver, August 19, 2019 - Fabled Copper Corp. (TSXV: FCO) ("Fabled" or the "Company") is pleased to announce that further to its news releases of April 2, and May 28, 2019 and the receipt of the TSX Venture Exchange's (the "Exchange") conditional acceptance letter of August 2, 2019 it has closed its previously announced acquisition of the ChurchKey Property (the "Property") as of August 16, 2019.
The Company has entered into an Option Agreement ("the Agreement") dated August 6, 2019 with ChurchKey Mines Inc. (the "Vendor"). Pursuant to the Agreement Fabled will pay $50,000 to the Vendor on the date of closing. Additional payments totaling $1,950,000 will become due to the Vendor over a period of 5 years from the effective date of the Agreement being August 6, 2019.
It is expected that the Company's common shares will recommence trading on August 21, 2019.
For more information on the transaction and the Property, please see the Company's news releases dated April 2, and May 28, 2019. In conjunction with the acquisition and as part of the Exchange's requirements the Company commissioned the preparation of 43-101 Technical Report on the ChurchKey Property that has been filed under the Company's profile on SEDAR.
Eugene Hodgson, President, commented, "With this acquisition of the ChurchKey Property, Fabled is excited to have significantly expanded its holdings in the area and acquired some very promising mineral claims. We are very keen to move the project forward and commence our summer program as soon as possible."
2019 Summer Program
The Company plans on carrying out a drill program to examine the depth potential of the Neil mineralized vein situated on the Company's Muskwa Property, and the Key and Magnum mineralized veins situated on the ChurchKey Property. In addition the Company also plans to test the source of an electromagnetic anomaly on the Muskwa and ChurchKey properties that was identified by previous survey work carried out by the Company. The program is scheduled to begin on September 1, 2019.
About Fabled Copper Corp,
Fabled is a publicly listed (TSXV: FCO) mineral exploration company whose primary business interest is in the Muskwa copper project and the ChurchKey Property located in Northern British Columbia. Further information about the Muskwa Project can be found in the 43-101 Technical Report on the Muskwa Project and on the ChurchKey Property in the 43-101 Technical Report on the ChurchKey Property filed under the Company's profile on SEDAR at www.sedar.com.
For further information please contact:
Eugene A. Hodgson, President
Fabled Copper Corp.
Phone: (604) 805-6600
ehodgson@fabledcopper.com
The TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this news release.
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47027
