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Carube Copper Receives Cash and Shares from Tocvan Ventures to start Earn-In at Rogers Creek Copper Project, BC
Toronto, Ontario--(Newsfile Corp. - March 13, 2019) - Carube Copper Corp. (TSXV: CUC) is ple...
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[{"type":"text","content":"Carube Copper Receives Cash and Shares from Tocvan Ventures to start Earn-In at Rogers Creek Copper Project, BCCompany Reports Results from AGMToronto, Ontario--(Newsfile Corp. - March 13, 2019) - Carube Copper Corp. (TSXV: CUC) is pleased to report that it has received 500,000 common shares of Tocvan Ventures Corp. (Tocvan) and has also been paid $25,000 (Cdn.) pursuant to the terms of a property option agreement between the Corporation and Tocvan dated May 23, 2018, as amended (the \"Option Agreement\"). Tocvan has an option to acquire up to an 80% interest in the Rogers Creek Property which covers 212.34 km2 in the Cascade Magmatic Arc of British Columbia, about 90 km northeast of Vancouver, British Columbia, in the Lillooet Mining District. The Property consists of 47 mineral claims and is being explored for porphyry-style copper-gold mineralization. In order to maintain in force the option granted to it under the Option Agreement, and to exercise the option, Tocvan must incur the following expenditures on the Rogers Creek Property: Issue 200,000 common shares to Carube and complete a $200,000 work commitment within 30 days of the first anniversary of the listing date on the CSE; Issue 200,000 common shares to Carube and complete a $300,000 work commitment within 30 days of the second anniversary of the listing date on the CSE; and Issue 200,000 common shares to Carube and complete a $400,000 work commitment within 30 days of the third anniversary of the listing date.Issue 200,000 common shares to Carube and complete a $1,000,000 work commitment within 30 days of the fourth anniversary of the listing date.Stephen Hughes, Carube Copper's CEO and President remarks, \"We are extremely pleased to see Tocvan go public and fulfill their commitment to explore at the Rogers Creek Copper Project. The company is anticipating a fruitful exploration season there this year with the Tocvan team funding and operating the program. This Joint Venture with Tocvan represents the first of several that the company expects to negotiate and complete on its non-core assets in the near term. Carube also intends to acquire new property assets for addition to its portfolio. A number of quality projects are currently under advanced review.\"AGM ResultsCarube would also like to announce the results from its Annual General and Special Meeting (\"AGM\") h...