Kutcho Copper Completes Royalty Buy Back and Terminates Offtake ROFR
VANCOUVER, Dec. 22, 2021 - Kutcho Copper Corp. (TSXV: KC, OTCQX: KCCFF) ("Kutcho Copper" or the "Company") is pleased to announce, as described in the press release dated July 6th, 2021, it has completed the buy back of the royalty held by Sumac Mines (now Sumitomo Metal Mining Canada) (the "Sumac Royalty") and has terminated Sumac's Right of First Refusal to purchase concentrates (the "Sumac ROFR") from the Kutcho copper-zinc project, both of which rights were granted under an Acquisition Agreement between Sumac Mines Ltd. and Western Keltic Mines Inc. dated August 29, 2003.
Kutcho Copper President and CEO, Vince Sorace, commented: "We view the completion of this transaction as a highly accretive to the Company. The termination of the Sumac ROFR gives the Company full flexibility to engage freely in strategic discussions with respect to offtake and offtake financing arrangements. This will provide a more competitive environment for concentrate offtake terms given that offtake for 100% of the concentrate is now available for negotiation."
About Kutcho Copper Corp.
Kutcho Copper Corp. is a Canadian resource development company focused on expanding and developing the Kutcho high grade copper-zinc project in northern British Columbia. Committed to social responsibility and the highest environmental standards, the Company recently completed a feasibility study on the Kutcho project and is advancing permitting with the objective of getting to a positive construction decision.
Vince Sorace
President & CEO, Kutcho Copper Corp.
For further information regarding Kutcho Copper Corp., please email info@kutcho.ca or visit our website at www.kutcho.ca.
Cautionary Note Regarding Forward-Looking Statements
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 contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "flexibility", "negotiation", "advancing", "objective", "view", "accretive" and similar expressions, or that events or conditions "will", "would", occur. Although Kutcho Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop the Kutcho project or its other projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the Kutcho project and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.