News release
Handa Copper retracts non-NI 43-101 disclosure
2016-02-22 12:33 ET - News Release
Mr. Marek Kreczmer reports
HANDA CLARIFIES DISCLOSURE
As a result of a review by the British Columbia Securities Commission, Handa Copper Corp. is issuing this news release to clarify its disclosure.
Technical disclosure
In its June, 2015, corporate presentation, the company disclosed an exploration target. The company does not currently have any exploration targets. Further, in the corporate presentation, the company disclosed mineral resources/reserves that were contrary to National Instrument 43-101. Finally, information for adjacent properties was disclosed in the corporate presentation that was not compliant with NI 43-101. The company wishes to retract the above-referenced statements and advises that such statements should not be relied upon. The company will be posting an amended corporate presentation on its website that addresses these deficiencies.
In its April 27, 2015, and May 2, 2015, news releases, the company stated that the disclosure was reviewed and approved by Jon Stacey, a qualified person as defined by NI 43-101. The company now understands that, at the relevant times, Mr. Stacey was not a member in good standing of a qualifying professional organization and therefore did not meet the definition of a qualified person under NI 43-101. The company wishes to retract the disclosure in the April 7, 2015, and May 2, 2015, news releases and advises that such disclosure should not be relied upon.
On its website and in the corporate presentation, the company did not identify and disclose the relationship to the company of the qualified person who prepared, supervised the preparation of or approved of the technical information it is disclosing as required by NI 43-101. The company is finalizing discussions with a consulting geologist to act as its qualified person. Once that qualified person has been appointed and had an opportunity to complete a review of the company's technical disclosure, the company will amend its website and the corporate presentation to include the statement required by NI 43-101.
In those instances where the company has amended, retracted or clarified previous disclosure, the company advises readers not to rely on such statements as they may continue to be found in the public domain.