Vancouver, British Columbia, Canada, April 03, 2023 (GLOBE NEWSWIRE) -- Allied Copper Corp. (TSX-V: CPR, OTCQB: CPRRF) (the “Company” or “Allied”), is pleased to announce that it has entered into an addendum (the “Addendum”) to the agreement previously announced on March 14, 2022, between Emerging Markets Consulting, LLC (“EMC”) and Allied (the “EMC Agreement”), subject to the approval of the TSX Venture Exchange (“TSX-V”).
The addendum serves to re-establish the EMC Agreement for a three-month term, following which, the Company has the option to renew the EMC Agreement for a further three-month term on substantially the same terms. Under the EMC Agreement, EMC will provide investor and public relations services to Allied, including arrangement for and provision of electronic media and webcast services, as well as the drafting of corporate information and dissemination of such information through email and trade shows. In consideration for these services, EMC will be paid a cash fee of $150,000 USD at the beginning of the three-month term and has the option to extended for a further period of three months on the same terms.
EMC acts at arm’s length to the Company and has no present interests, directly or indirectly, in the Company or its securities. The fees paid by the Company to EMC are solely for the services provided by EMC and will come from the Company’s general working capital account.
About Allied Copper
Allied (TSX-V: CPR, OTCQB: CPRRF) is a growth-oriented, battery-metals focused exploration company. Our strategy is to acquire and develop low-cost, potentially high-growth battery metals assets that represent key inputs needed to support the global energy transition. Our commitment is to operate efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about Volt’s and Allied’s continue progress on the Company’s website: www.alliedcoppercorp.com.
For Investor Relations inquiries or further information, please contact:
Alex Wylie, President Kyle Hookey, CEO firstname.lastname@example.org email@example.com M: +1.403.830.5811 M: +61 (431) 920 389
Forward Looking Statements
This news release includes certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or information. Statements, other than statements of historical fact, may constitute forward looking information and include, without limitation, the terms of the EMC Agreement and Addendum, including the timing and sources of future payments to EMC; and the approval of the TSX-V. Forward-looking statements and forward-looking information also include any statements relating to future mineral production, liquidity, enhanced value and capital markets profile of Allied Copper, future growth potential for Allied Copper and its business, and future exploration plans. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the price of copper, lithium and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Allied Copper’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms, that the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.