Candente Copper Corp.
TSX : DNT
PINK SHEETS : CDOUF
BVLAC : DNT

Candente Copper Corp.

September 22, 2011 04:00 ET

Candente Copper Announces Conditional Approval for TSX Listing of Cobriza Metals Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2011) - Candente Copper Corp. (TSX:DNT)(PINK SHEETS:CDOUF)(BVLAC:DNT) ("Candente Copper" or the "Company") is pleased to announce that it has received conditional approval for the listing of the common shares of Cobriza Metals Corp. ("Cobriza") on the Toronto Stock Exchange ("TSX") and it anticipates that, subject to the fulfilment of conditions set forth in the TSX's conditional approval letter, the common shares of Cobriza ("Cobriza Shares") will commence trading on the TSX on or about the opening of trading on October 12, 2011.

On August 25, 2011, Candente Copper obtained the approval of the Supreme Court of British Columbia for the proposed spin-out of all claims held in Peru apart from the Cañariaco Property, as well as $6,000,000, into Cobriza by way of a plan of arrangement (the "Arrangement") (see Candente Copper NR 026 August 24, 2011 for details).

Candente Copper shares ("Old Candente Copper Shares") are expected to trade until the close of trading on October 11, 2011. At the commencement of trading on October 12, 2011, it is anticipated that new Candente Copper Shares ("New Candente Copper Shares") will trade under the symbol 'DNT' in substitution for the Old Candente Copper shares, and the Cobriza Shares will commence trading under the symbol 'CZA'.

Purchasers and holders of Old Candente Copper Shares will be entitled to 1 New Candente Copper Share and 1/5 of a Cobriza Share for each Old Candente Copper Share upon remitting a properly completed Letter of Transmittal and certificates representing their Old Candente Copper Shares to the Depositary at the address specified in the Letter of Transmittal. The Letter of Transmittal will be mailed to all shareholders - either directly or via their broker if their shares are held indirectly - and will also be available under the Company's profile on SEDAR at www.sedar.com or by contacting the Company directly.

An update will be provided as soon as the Arrangement becomes effective.

About Candente Copper

Candente Copper Corp. is a TSX and BVL listed mining company focused on exploration and development of base metal mining projects in Peru and Latin America. Candente Copper's flagship project is the 100% owned Cañariaco Norte copper project located in the prolific mining region of northern Peru.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the Arrangement, timing certain steps to be taken with respect to the Arrangement, the expected completion of the Arrangement and the anticipated timing of listing of the New Candente Copper Shares and the Cobriza Shares on the TSX. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results, performance, or actions and that actual results and actions may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, those risks and uncertainties disclosed in the Company's Information Circular with respect to the Company's Annual general and Special Meeting held August 23, 2011 filed with certain securities commissions in Canada and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

On behalf of the Board of Candente Copper Corp.

Joanne C. Freeze P.Geo., CEO & Director

NR-028

Contact Information

  • Candente Copper Corp.
    John Foulkes
    VP Corporate Development
    Mobile: +1 (604) 614-2999 or Local: +1 (604) 689-1957 ext 2
    Toll Free: 1 (877) 689-1964 ext 2
    jfoulkes@candente.com

    Candente Copper Corp.
    Walter Spagnuolo
    Manager, Investor Relations
    Mobile: +1 (604) 306-8477 or Local : +1 (604) 689-1957 ext 3

    Candente Copper Corp.
    Nataly Reategui
    Investor Relations, Peru
    (511) 715-2001 ext 107
    nreategui@candente.com
    www.candente.com