CopperBank Updates on Strategic Review of Projects

VANCOUVER, BC / ACCESSWIRE / October 28, 2016 / CopperBank Resources Corp. (“CopperBank” or the “Company”) (CSE: CBK) is pleased to update investors and shareholders that a comprehensive review of CopperBank’s existing portfolio has continued over the past several months. The purpose of the review is to maximize CopperBank’s value which could be accomplished in various ways including continuing to hold or “bank” these and additional copper projects at low costs and/or seek a form of divesture of certain assets through spin-out or potential partnerships. CopperBank management is exploring these options to strategically enhance shareholder value. Investors are encouraged to view the interactive video presentation on the company’s website – the lead video on the “energy zone” button – at www.copperbankcorp.com.

The company wishes to update that a total of CDN$100,000 owed to company management has been settled in common shares in the company at a deemed price of 0.10 per share. A total of 1 million shares will be issued to settle this amount and will have a four month hold from date of issuance.

The Company also announces that Mr. Todd Hilditch resigned, effective September 28, 2016, as a director of the company to focus on his own current endeavours and will remain as a strategic advisor to CopperBank. The Company wishes to thank Mr. Hilditch for the early-stage contribution he made in the formation of CopperBank and looks forward to his important input as a strategic advisor.

On behalf of CopperBank Resources Corp.

“Gianni Kovacevic”
Executive Chairman

Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: gk@copperbankcorp.com
Website: www.copperbankcorp.com

Certain information in this release may constitute “forward-looking information” under applicable securities laws and necessarily involve risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and CopperBank does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of CopperBank’s expectations or beliefs regarding future events. In certain cases, forward-looking information can be identified by the use of words such as “plans”, or “believes”, or variations of
such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. Examples of forward-looking information in this news release include, but are not limited to, statements with respect to the Company’s ongoing review of its existing portfolio, the involvement of CopperBank in any potential divestiture, spin-out, partnership or other transactions involving the Company’s portfolio
assets, and the ability of the Company to complete any such transactions, the ability of CopperBank to enter into transactions that will ultimately enhance shareholder value, and the anticipated issuance of one million shares in connection with the satisfaction of certain loans between CopperBank and management. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to the Company’s ability to identify and complete one or more transactions involving the Company’s portfolio assets that enhance shareholder value as part of management’s ongoing review of strategic alternatives in the current market conditions. By its very nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking information. Such factors include, but are not limited to, the risk that the Company will not be able to identify and complete one or more transactions involving the Company’s portfolio assets that enhance shareholder value as part of management’s ongoing review of strategic alternatives in the current market conditions. Although CopperBank has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. For more information on CopperBank and the risks and challenges of its businesses, investors should review the continuous disclosure filings that are available under CopperBank’s profile at www.sedar.com.

SOURCE: CopperBank Resources Corp.

ReleaseID: 447863