Kutcho Copper Corp. (formerly Desert Star Resources) Announces Closing of the Kutcho Project Acquisition

About this update from Kutcho Copper Corp

[{"type":"text","content":"Kutcho Copper Corp. (formerly Desert Star Resources) Announces Closing of the Kutcho Project AcquisitionVANCOUVER, BC / ACCESSWIRE / December 15, 2017 / Kutcho Copper Corp. (formerly, Desert Star Resources Ltd.) (TSX-V: DSR) (the \"Company\") is pleased to announce the completion of the acquisition (the \"Acquisition\") of the Kutcho high grade copper-zinc-silver-gold project (\"Kutcho\"), as well as the closing of a C$20 million subordinated secured convertible term debt loan (the \"Term Debt Loan\") and a US$65 million Early Deposit Precious Metals Purchase Agreement (the \"PMPA\") with Wheaton Precious Metals Corp. (TSX: WPM) (NYSE: WPM) (\"Wheaton\"), and the subsequent release of escrowed funds and conversion of subscription receipts under its C$14.7 million private placement (the \"Private Placement\"), that was announced on December 8, 2017.\nIn connection with the closing of the Acquisition, the Company has changed its name to Kutcho Copper Corp. Trading in the shares of the Company will remain halted until all TSX Venture Exchange filings have been completed, at which time the Company's common shares will commence trading under the symbol \"KC\".\n\"The completion of the acquisition of Kutcho and over C$100 million financing package represents a transformational step forward for the company\" stated Vince Sorace, President & CEO of Kutcho Copper Corp. \"The Kutcho project is a highly prospective advanced-stage project with significant near-term upside potential in both project optimization and resource expansion. With the acquisition complete, we look forward to aggressively advancing Kutcho towards a Feasibility Study and to working closely with First Nations, local communities and all levels of Government to move the project towards production.\"\nKutcho Project Acquisition\nThe Company acquired 100% of Kutcho from Capstone Mining Corp. (TSX: CS) (\"Capstone\") for total consideration of C$28.8 million in cash plus the issuance of 4,646,892 common shares of the Company (the \"Purchase Price\").\nThe Company has previously filed an independent technical report entitled \"Prefeasibility Study Technical Report on the Kutcho Project, British Columbia\" (the \"Technical Report\") dated July 31, 2017, a copy of which can be found on the Company's profile at www.SEDAR.com.\nRelease of Escrowed Private Placement Proceeds ...

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