CANDENTE COPPER RECEIVES SECOND FINANCING OFFER $10 MILLIONIt will happen!
Candente Copper receives second financing offer for up to $10 Million to Advance the Canariaco Copper Project
2022-04-12 11:02 ET - News Release
Not for dissemination in the United States or for distribution to U.S. Newswire Services
VANCOUVER, British Columbia, April 12, 2022 (GLOBE NEWSWIRE) -- Candente Copper Corp. (TSX:DNT, BVL:DNT, US:CCOUF) ("Candente Copper" or "the Company") is pleased to advise that the Company has received a second financing offer for a similar amount to the Lind Financing announced on March 23th, 2022.
The Company is subject to confidentiality obligations with respect to the specific terms of the financing offer and the identity of the party that made the offer, but we can disclose that the offer came from another well-financed, reputable entity. With the best interest of the Company and its stakeholders in mind, the board of directors of the Company has formed a special committee to review both and potentially other financing offers, and the Company will advise once decisions have been made.
Further to the News Release on the Lind Financing (NR 147) the Company would also like to clarify that its major shareholder, Fortescue Metals Group, has the right to maintain their position of 19.9% in the Company in any equity financing and therefor will be given the opportunity to participate on the same terms offered by any other group. Further to that, all conversations with Fortescue to date indicate that they wish to maintain their 19.9% interest or increase it.
Funds raised will be dedicated initially to Feasibility, Detailed Environmental Impact studies and community initiatives for the Canariaco Norte Project and once permits are received, then to exploration drilling on Canariaco Sur and Quebrada Verde.