VANCOUVER, BRITISH COLUMBIA – November 14, 2017 – Copper Creek Gold Corp. (the “Company”) announces that further to the Company’s news release dated August 15, 2017 announcing its plans to work diligently toward meeting the required Continued Listing Requirements (“CLR”) and obtain a property of merit as required by the TSX Venture Exchange (“Exchange”) by November 20, 2017, the Company has now entered into a property option agreement with Eastfield Resources Ltd. (“Eastfield”) dated November 14, 2017 (the Agreement”), whereby the Company may earn an undivided 60% interest seven mineral tenure covering 2,418 hectares (5,972 acres) located approximately 80 km northeast of the town of Quesnel, BC and 20 km north of the historic gold mining towns of Wells and Barkerville (the “Property”), subject to Exchange approval.
Pursuant to the terms of the Agreement, the Company may exercise the option as follows:
(a) by making payments to the Eastfield as follows:
(i) $20,000 immediately upon execution of the Agreement; and
(ii) $20,000 on the first anniversary of the date of the Agreement;
(iii) $30,000 on the second anniversary of the date of the Agreement;
(iv) $55,000 on the third anniversary of the date of the Agreement;
(v) $100,000 cash and $50,000 to be paid in equivalent shares or cash on the fourth anniversary of
the date of the Agreement; and
(vi) $125,000 cash and $100,000 to be paid in equivalent shares or cash on the fifth anniversary of
the date of the Agreement.
(b) Incurring Exploration Expenditures on the Property as follows:
(i) $100,000 to be spent by the first anniversary of the date of the Agreement;
(ii) an additional $300,000 to be spent by the second anniversary of the date of the Agreement;
(iii) an additional $500,000 to be spent by the third anniversary of the date of the Agreement;
(iv) an additional $600,000 to be spent by the fourth anniversary of the date of the Agreement; and
(v) an additional $1,000,000 to be spent by the fifth anniversary of the date of the Agreement.
Finder’s fees will be paid on behalf of the transaction in accordance with Exchange policies.
In order to fund the exploration program on the Property and meet the CLR by November 20, 2017, the Company has entered into two arms‐ length shareholder loan agreements dated November 14, 2017 (the “Loan Agreements”).
The lenders have agreed to loan the Company the total sum of $175,000, for a period of six months at an interest rate of five percent (5%) payable on May 14, 2018 (the “Maturity Date”), subject to Exchange approval. The Company has agreed to issue Promissory Notes to the lenders as evidence of the indebtedness of the loan. The loans to the Company are conditional upon Exchange approval of the Property transaction and the Company’s ability to meet CLR.
The loan may, in whole or in part, be prepaid without bonus or penalty before the Maturity Date, at the consent of the lenders, and pursuant to the terms of the Loan Agreements. Interest accrued on the amount prepaid shall be paid at the time of any prepayment.
Also in order to better finance the Company, the Board of Directors have approved and authorized a consolidation of the Company’s issued and outstanding common shares on a five old shares for one new share (5:1) basis, consolidating its 33,477,704 currently outstanding shares to 6,695,540 shares.
The Company will not be issuing fractional shares as a result of the consolidation. Instead, all fractional shares equal or greater to one‐half will be rounded to the next whole share. The Company’s outstanding share purchase warrants will be adjusted upon completion of the consolidation. The Company does not intend to change its name or seek a new stock trading symbol from the Exchange in connection with the consolidation. The Company’s shares will continue to trade under the symbol “CPV”. The consolidation remains subject to final acceptance by the Exchange.
A letter of transmittal will be sent to the registered shareholders providing instructions to surrender the share certificates evidencing their pre‐consolidated common shares for replacement certificates of Copper Creek Gold Corp. representing the number of post‐consolidated common shares they are entitled to as a result of the consolidation. Until surrendered, each certificate representing the pre‐consolidated common shares will be deemed to represent the number of post‐consolidated common shares of Copper Creek Gold Corp. that the holder thereof is entitled to as a result of the consolidation.
The Board plans to reduce the overall debt associated with the Company and will pursue equity financings in the near future.
About Copper Creek Gold:
The Company is a Canadian‐based mineral exploration company which has been active in the resource sector in British Columbia and elsewhere in Western Canada.
ON BEHALF OF THE BOARD
”Robert A. Culbert”
Robert A. Culbert
FOR FURTHER INFORMATION CONTACT
Officer Tel: 604‐786‐3255
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.
This news release may contain forward‐looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward‐looking. Forward‐looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward‐looking statements.