Catalyst Copper Corp. (CATXF: OTC Link) | Catalyst Copper Corp. Private Placement Amendment

Catalyst Copper Corp. Private Placement Amendment

Aug 05, 2011

OTC Disclosure News Service

Vancouver, BC, Canada –

NEWS RELEASE

August 5, 2011                                                                                      Trading Symbol: CCY

 

Catalyst Copper Corp. Private Placement Amendment

 

VANCOUVER, B.C. – Catalyst Copper Corp. (the “Company” or “Catalyst”) is increasing the previously announced non-brokered private placement (the “Offering”) from 20,000,000 shares to 20,200,000 shares at a price of $0.105 per share for gross proceeds of Cdn $2,121,000 instead of Cdn $2,100,000 as announced on July 29,2011. All other details will remain the same, as stated in the July 29, 2011 news release. 

The Offering is subject to receipt of all necessary corporate and regulatory approvals, including the acceptance of theTSX Venture Exchange.

About La Verde

La Verde is located in an area with excellent infrastructure. Power, rail and water all cross the property. Lazaro Cardenas, Mexico’s third largest port on the Pacific Ocean coast is 180 km from the site. Significant upside potential remains for the two known zones of porphyry style copper, gold and molybdenum mineralization as the 2010 drill program has shown both deposits remain open to depth and along strike.

 La Verde property is subject to an option agreement with a Mexican subsidiary of Teck Resources Limited (Teck) whereby Catalyst’s 100% Mexican subsidiary, Minera Hill 29, may earn a 60% interest in La Verde by making US$10,000,000 in exploration expenditures (including 30,000 meters of drilling and 200 kilometers of IP) by December 31, 2012. Upon Catalyst earning a 60% interest, Teck has the option to increase its interest to 60% by incurring aggregate expenditures equal to two times the amount spent by Catalyst. ShouldTeck fail to exercise its option to earn a 60% interest, Catalyst can acquire a 100% interest in La Verde by paying to Teck US$20 million. The property is subject to an underlying 0.5% NSR.

 

ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.

“JohnW. Greenslade”
John W. Greenslade – President, CEO (Director)


For further information please contact Corporate Communications Officer: Denby Greenslade (604) 638-5900.


Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/CATXF/news?id=33885

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