VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 24, 2014) - AQM Copper Inc. ("AQM Copper Inc." or the "Company") (TSX VENTURE:AQM) announces that it has changed its auditors from Davidson & Company, LLP (the "Former Auditors") to Grant Thornton LLP (the "Successor Auditors") effective December 18, 2014.
At the request of the Company, the Former Auditors resigned as auditors of the Company effective December 15, 2014. The Board of Directors has appointed the Successor Auditors as the Company's auditors in place and stead of the Former Auditors effective December 18, 2014 until the close of the next annual general meeting of the Company.
There were no reservations in the Former Auditors' reports for the two most recently-completed fiscal years or for any period subsequent to the most recently completed period for which an audit report was issued and preceding the date of the Former Auditors' resignation. There are no reportable events between the Company and the Former Auditors. The Notice of Change of Auditors, together with the letter from the Former Auditors and the letter from the Successor Auditors, has been reviewed by the Company's Board of Directors.
About AQM Copper
AQM Copper Inc. is a Canadian based mineral exploration company exploring and developing copper deposits in South America. The Company's management and directors have extensive experience working for the world's largest mining copper producers and financial institutions. Through its wholly owned Peruvian subsidiary, Minera AQM Copper Peru S.A.C., ("MAQM"), the Company is developing the Zafranal Copper‐Gold Porphyry Project located in Southern Peru (the "Zafranal Project"). MAQM is the operator of a 50/50 joint venture with Teck Resources Limited through a sole purpose Peruvian company, Compañia Minera Zafranal. MAQM is owned 60% by AQM, and 40% by Mitsubishi Materials Corporation, pursuant to a transaction outlined in the Company's news releases of July 2 and August 15, 2013. As such, the Company has a 30% beneficial ownership interest in the Zafranal Project. On September 12, 2013, the Company published an updated preliminary economic assessment ("PEA") on the Zafranal Project outlining financial projections for an open pit mine processing 44,000 t/d of mill feed. The PEA showed an after-tax net present value, at an 8% discount rate, of US$616 million on a 100% basis.
Please refer to the Company's website at www.aqmcopper.com, for further information regarding the Company and its projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Bruce Turner, President and CEO
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