Three Valley Copper increases its stake in MTV to
TORONTO, December 6, 2021 (GLOBE NEWSWIRE) – (TSXV: TVC) – Three Valley Copper Corp. (“TVC“or the”Society“) announces today that its ownership of Minera Tres Valles SpA (“MTV“) went from 91.1% to 95.1%.
On November 25, 2021, the Company announced the closing of a bought deal financing (the “Funding”) To help support MTV’s operations. In accordance with the MTV shareholders’ agreement (the “SHA“), the minority shareholder of MTV (the”Minority shareholder”) And SRH Chile SpA (a 100% indirect subsidiary of TVC) were able to subscribe to the newly issued shares of MTV. The minority shareholder did not participate, resulting in the dilution of his MTV ownership from 8.9% to 4.9% under the terms of the SHA. Approximately $ 9 million of the funding has been used to subscribe for these newly issued shares and the Company expects further dilution of the minority shareholder position to occur if the minority shareholder does not participate in the future. planned MTV share issues.
About Three Valley Copper Corp.
TVC, headquartered in Toronto, Ontario, Canada, is focused on growing copper production and further exploration of its core asset, Minera Tres Valles SpA. Based in Salamanca, Chile, MTV is 95.1% owned by the Company and MTV’s main assets are the Minera Tres Valles mining complex and its 46,000 hectares of exploration land. For more information on TVC, please visit www.threevalleycopper.com.
Caution regarding forward-looking information
Certain statements contained in this press release contain forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “plan”, “should”, “believe”, “plan” “,” Intend “and similar expressions are intended to identify forward-looking statements. In particular, but without limiting the foregoing, this press release contains forward-looking statements regarding: the expectation that further dilution of the position of the minority shareholder could occur if the minority shareholder does not participate in future issues of MTV shares.
Although TVC believes that forward-looking statements are reasonable, they are not guarantees of future results, performance or achievement. A number of factors or assumptions were used in developing the forward-looking statements, including: the Company’s 95.1% stake in MTV is binding and the findings of the International Court’s “Request for Arbitration” The International Chamber of Commerce arbitration supports the Company’s position that the minority shareholder’s claims are unfounded. Although the Company believes that the expectations and assumptions on which these forward-looking statements and information are based are reasonable, one should not place undue reliance on forward-looking statements and information, as the Company cannot guarantee that they will prove to be correct. . Because forward-looking statements and information deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results, performance or achievements could differ materially from those expressed or implied by forward-looking statements if the assumptions underlying the forward-looking statements prove to be inaccurate or if one or more risks or other factors materialize. Readers are cautioned that the above list of risks and uncertainties is not exhaustive. Other risk factors that could affect the business or financial results of the Company are included in the Company’s Annual Information Form dated March 3, 2021 and can be found on the SEDAR website (www.sedar.com). The forward-looking statements and information contained in this press release are made as of the date hereof and the Company assumes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.
You should not place undue importance on forward-looking information and should not rely on such information at any other date. Although the Company may choose to do so, the Company has no obligation and does not undertake to update this information at any given time, except as required by law.
For more information:
President and CEO
T: (416) 943-7107
E: [email protected]
Renmark Financial Communications Inc.
Joshua Lavers: [email protected]
T: (416) 644-2020 or (212) 812-7680
Source: Three Valley Copper Corp.
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 press release.