Copper One Inc. Announces Change of Business to an Investment Company and Board Appointment
19.03.2019 | GlobeNewswire
TORONTO, March 19, 2019 - Copper One Inc. (TSXV: CUO) (“Copper One” or the “Company”) is pleased to announce that it will be pursuing a change of business to an investment company (the “Proposed COB”) under the rules of the Canadian Securities Exchange (the “CSE”).Proposed COB
After a thorough evaluation of the Company’s existing resources and a review of strategic options for the Company generally, the Company determined to refocus its business operations from a "resource issuer" to an "investment issuer". The board of directors of the Company (the “Board”) believes that its network of business contacts, the depth of experience of its management team and its overall entrepreneurial approach will enable it to identify and capitalize upon investment opportunities as an "investment issuer".
In connection with the Proposed COB, the Company intends to adopt an investment policy (the “Investment Policy”) to govern its investment activities and investment strategy. A summary of the material terms of the Investment Policy will be disclosed in due course and a copy of the Investment Policy will be posted on the Company’s profile at www.sedar.com.
The completion of the Proposed COB is subject to the receipt of all necessary approvals, including without limitation shareholder approval of the Proposed COB, regulatory approval for the listing of the common shares of the Company on the CSE and the concurrent delisting of the common shares of Copper One from the TSX Venture Exchange (“TSXV”).
Board Appointment
The Company also announces the appointment of Fred Leigh to its board of directors, effective immediately.
Mr. Leigh has been involved in the investment industry for more than 35 years and has had a significant role as founder, director and/or investor in many public companies. Mr. Leigh is also the founder and President of Siwash Holdings Ltd., a privately held company which, for over 18 years, has invested in early stage opportunities in the resource sector.
The appointment of Mr. Leigh to the Company’s board of directors follows the resignation of Thomas Olesinski from the board. The board and management of Copper One thank Mr. Olesinski for his efforts and contributions and wish him well in his future endeavours.
For more information about Copper One, please contact:
Copper One Inc.
G. Scott Moore, Chairman
smoore@copperone.com
Forward-looking information: This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the impact of changes to the board, the Proposed COB, the ability of the Company to complete the Proposed COB, the expected benefits of the Proposed COB to the Company and its shareholders, the delisting of the Common Shares from the TSXV, the listing of the Common Shares on the CSE and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Copper One, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Copper One has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Copper One does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Completion of the Proposed COB is subject to a number of conditions, including CSE acceptance and shareholder approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the listing statement to be prepared in connection with the Proposed COB, any information released or received with respect to the Proposed COB may not be accurate or complete and should not be relied upon. Trading in the securities of Copper One should be considered highly speculative.