Copperbank Appoints Giulio T. Bonifacio as President & CEO
VANCOUVER, BC / ACCESSWIRE / May 10, 2018 / Copperbank Resources Corp. (''CopperBank'' or the ''Company'') (CSE: CBK; FSE: 9CP; OTC PINK: CPPKF) is very pleased to announce the appointment of Giulio T. Bonifacio as President, Chief Executive Officer & Director.
Mr. Bonifacio has over 30 years of experience in senior executive roles in the mining industry. Among his several accomplishments, Mr. Bonifacio has raised directly over $700 million in capital through equity and project debt financings for projects of merit as well as being involved in corporate transactions aggregating in excess of a billion dollars.
Mr. Bonifacio was the Founder, President and Director of Nevada Copper since its inception in 2005 until February 2018. Mr. Bonifacio has led and directed efforts at every stage of development from exploration, development, permitting and construction. Mr. Bonifacio is a Chartered Professional Accountant with extensive experience and knowledge of operations, capital markets, project finance and mergers & acquisitions. Mr. Bonifacio has held previous senior executive roles with Getty Resources Limited, TOTAL Energold Corp., an energy and gold producer and Vengold Inc., gold producer prior to founding Nevada Copper in 2005.
During his 12 years at Nevada Copper Mr. Bonifacio led the company's efforts from early stage development by way of resource and reserve expansion with over 250,000 meters of drilling; feasibility studies for the underground, open pit and integrated operations; while also successfully permitting both the underground and open pit operations at the Pumpkin Hollow project located in Nevada which represents the only fully-permitted, shovel ready copper project of scale in North America.
Additionally, Mr. Bonifacio led the initial construction phase which included the completion of headframe, hoist and 1,900-foot-deep, 24-foot diameter concreted lined production-sized shaft, all of which has led to a shortened construction period at Pumpkin Hollow, with production currently targeted for 2019. Mr. Bonifacio was also integral to Nevada Copper attaining a significant refinancing package in December 2017, which now currently positions the Pumpkin Hollow project to progress into the construction phase.
Gianni Kovacevic, CopperBank Executive Chairman, comments, ''I have known Mr. Bonifacio for well over a decade. His skill set and considerable experience in the advancement of copper projects will complement the rest of our team. We aim to build the CopperBank brand into a first-in-class investment opportunity for global investors who seek highly accretive exposure to copper development projects, managed by experienced owner-operators with a proven track record of creating shareholder value. Giulio and I both look forward to communicating with the investment community to share our strategies on how we can accelerate our business as we responsibly move CopperBank's portfolio of projects forward.''
Giulio T. Bonifacio, President & CEO, commented, ''I am very excited to join CopperBank and working closely with Gianni and management to advance all ours projects with a focus on Pyramid and Contact which are projects of considerable merit while also considering other projects of merit. I am extremely optimistic with our abilities to advance our projects while enhancing the value proposition for all stakeholders.''
Grant of Stock Options
The Company also announces that it has granted an aggregate of 8,600,000 incentive stock options (the ''Options''), with an exercise price of $0.10, to officers, directors and consultants of the Company. The Options can be exercised for a period of five years from the date of grant, are subject to the policies of the Canadian Securities Exchange and contain vesting provisions whereby 25% of the Options will vest six months from the date of grant and 25% vesting every six months thereafter.
About CopperBank
CopperBank is a Canadian exploration mining company focused on energy related metal exploration in The United States of America. The Company trades on the Canadian Securities Exchange - CSE - under the symbol ''CBK.''
On behalf of Copperbank Resources Corp.
''Gianni Kovacevic''
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: gk@copperbankcorp.com
Website: www.copperbankcorp.com
Advisory Regarding Forward-Looking Statements
Certain information in this release constitutes forward looking statements or information (''forward-looking statements'') under applicable securities laws and necessarily involves risks and uncertainties. Forward-looking statements included herein are made as of the date of this news release and, except as required by applicable law, CopperBank does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Forward-looking statements relate to future events or future performance and reflect management of CopperBank's expectations or beliefs regarding future events. In certain cases, forward-looking statements can be identified by the use of words such as ''plans,'' or ''believes,'' or variations of such words and phrases or statements that certain actions, events or results ''may,'' ''could,'' ''would,'' ''might'' or ''will be taken,'' ''occur'' or ''be achieved'' or the negative of these terms or comparable terminology. Examples of forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's ongoing review of its existing portfolio, the involvement of CopperBank in any potential divestiture, spin-out, partnership or other transactions involving the Company's portfolio assets, and the ability of the Company to complete any such transactions, the ability of CopperBank to enter into transactions that will ultimately enhance shareholder value, and potential future work or activities in respect of the Pyramid project or the Contact project. Although CopperBank believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to CopperBank. Forward-looking statements are based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to, the Company's ability to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Such factors include, but are not limited to, the risk that the Company will not be able to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. Although CopperBank has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. For more information on CopperBank and the risks and challenges of its businesses, investors should review the continuous disclosure filings that are available under CopperBank's profile at www.sedar.com.
SOURCE: Copperbank Resources Corp.