Coast Copper CEO Increases Ownership Position to 14.27%
TSX. V: COCO
VANCOUVER, BC, Nov. 9, 2023 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company") (TSXV: COCO) announces that an early warning report ("EWR") has been filed by Mr. Adam Travis, CEO and a Director of the Company. Since his initial EWR on September 28, 2022, Mr. Travis has indirectly acquired, through Cazador Resources Ltd. ("Cazador"), a private company controlled by him, an additional 1,105,000 common shares of the Company and has received an additional 400,000 incentive stock options. These transactions (the "Transactions") have increased his share ownership in the Company's current issued and outstanding shares by 2.02% on a partially diluted basis.
Prior to the Transactions, Cazador held 5,946,500 common shares of the Company, 900,000 incentive stock options and 1,260,000 share purchase warrants. This represented 12.25% of the Company's issued and outstanding shares on a partially diluted basis. Mr. Travis now controls 7,051,500 common shares of the Company, 1,300,000 incentive stock options and 1,260,000 share purchase warrants, which represents 14.27% of the Company's current issued and outstanding shares on a partially diluted basis.
The securities were acquired for investment purposes. Mr. Travis has a long-term view of the investment and may, in the future, acquire and/or dispose of securities through the open market, through private transactions or through the Company's long-term incentive plan as circumstances or market conditions may warrant.
A full report may be obtained from SEDAR+.
In total, the Directors and Officers ownership percentage is 33.19% of the Company's current issued and outstanding shares on a partially diluted basis.
Coast Copper's exploration focus is the optioned Empire Mine property, located on northern Vancouver Island, BC, which covers three historical open pit mines and two past-producing underground mines that yielded iron, copper, gold and silver. Coast Copper's other properties include its 100% owned Knob Hill NW property located on northern Vancouver Island, its Home Brew property in central BC, and its Scottie West property located in the "Golden Triangle" of northern BC. Coast Copper's management team continues to review precious and base metals opportunities in western North America.
On Behalf of the Board of Directors:
"Dr. Fletcher Morgan"
Dr. Fletcher Morgan, Chairman
NR23-11
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.
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.
SOURCE Coast Copper Corp.
please contact: Adam Travis, CEO, Coast Copper Corp., 409 Granville Street, Suite 904, Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E: [email protected]
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