03/01/2019 Corporate News

KOPR to Acquire Stake in Premium Exploration USA

VANCOUVER—March 1, 2019— KOPR Point Ventures Inc. (CSE: KOPR / OTC: NPEZF / FSE: 4NP) (KOPR or the Company) is pleased to announce the successful negotiation to acquire up to a 100% stake in Premium Exploration (USA), Inc., (“PEM USA”) a Nevada corporation. PEM USA is the owner of patented and unpatented mining claims located in Idaho County, Idaho near the town of Elk City.

Quoted by David Greenway:

“This acquisition allows KOPR to acquire an initial stake in the heart of the Ore Grande Shear Zone, on what many consider to be an exceptional under-explored American gold district. We believe that with past drilling results like 5.23 grams per tonne (g/t) gold over 112.8 metres, including 34.22 g/t gold over 6.6 metres and 1.11 grams per tone over 111.25 meters will continue to validate our belief in continuity and potential of the Friday ore deposit. Keeping our initial stake at 20% allows us the ability to model and develop the asset with the guaranteed ability to increase our interest to 100% upon careful and meaningful consideration. I couldn’t be more pleased with the acquisition or the terms we have negotiated to our shareholders benefit!”

The details of the transaction are as follows:

KOPR may purchase 20% of the issued and outstanding shares of PEM USA from Premium Exploration, Inc., a British Columbia company, in consideration of US $160,000 and 3,000,000 common shares of KOPR (“Shares”), with the Shares subject to voluntary hold periods as follows:

  1. 300,000 Shares shall be subject to a hold period of six months from issuance;
  2. 150,000 Shares shall be subject to a hold period of nine months from issuance;
  3. 150,000 Shares shall be subject to a hold period of fifteen months from issuance;
  4. 150,000 Shares shall be subject to a hold period of eighteen months from issuance;
  5. 150,000 Shares shall be subject to a hold period of twenty-four months from issuance;
  6. 300,000 Shares shall be subject to a hold period of thirty months from issuance; and
  7. 1,800,000 shares shall be subject to a hold period of thirty-six months from issuance.

At any time on or after March 1, 2020 and until March 1, 2023, KOPR may purchase the balance of 80% of the issued and outstanding shares of PEM USA in consideration of an additional payment of US $1,000,000 and issuing common shares of KOPR equal to US $3,000,000 (the “Option Shares”), based on the average closing price of KOPR for the 30 previous trading days immediately proceeding the closing date of the share purchase, with the shares subject to voluntary hold periods as follows:

  1. 10% of the Option shares shall be subject to a hold period of six months from issuance;
  2. 5% of the Option Shares shall subject to a hold period of nine months from issuance;
  3. 5% of the Option Shares shall be subject to a hold period of fifteen months from issuance;
  4. 5% of the Option Shares shall be subject to a hold period of eighteen months from issuance;
  5. 5% of the Option Shares shall be subject to a hold period of twenty-four months from issuance;
  6. 10% of the Option Shares shall be subject to a hold period of thirty months from issuance; and
  7. 60% of the Option Shares shall be subject to a hold period of thirty-six months from issuance.

The transaction is a related party transaction as defined in Multi-Lateral Instrument 61-101 (“MI 61-101”) as a result of the Company and the Premium Exploration, Inc. having certain common directors and officers. The transaction is being undertaken pursuant to available exemptions from the requirements of MI 61-101.

Further, the Company wishes to clarify that, further to the news release issued February 25, 2019, Buster Hunsaker is the name of the Chair of the Company’s Advisory Board, not Buster Chairnof, as stated.

About KOPR Point Ventures Inc.
KOPR Point (CSE: KOPR / OTC: NPEZF / FSE: 4NP) is engaged in the identification, review and acquisition of latter stage copper and copper/gold assets. Management has been mandated to focus on safe, mining friendly jurisdictions and government regulations supportive of mining operations.

On Behalf of the Board of KOPR Point Ventures Inc.

“David Greenway”
Chief Executive Officer 

Corporate Office
310-221 West Esplanade
North Vancouver, BC
V7M 3J3

For further information, please contact:

E: [email protected]
P: (604) 318-0114
 
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.