Copper One Inc.
TSX VENTURE : CUO

Copper One Inc.

November 18, 2015 17:30 ET

Copper One Announces Shares for Debt Settlement

TORONTO, ONTARIO--(Marketwired - Nov. 18, 2015) - Copper One Inc. (TSX VENTURE:CUO) ("Copper One" or the "Company") has entered into settlement agreements (the "Settlement Agreements") with various creditors of the Company whereby Copper One would issue common shares of the Company at a deemed price of $0.05 per common share representing a partial settlement of the amounts owing to such creditors (the "Shares for Debt Settlement"). Pursuant to the Settlement Agreements, CDN$195,000 would be settled and a total of 3,900,000 common shares would be issued to the creditors, which would represent a total of 37.81% of the total number of issued and outstanding common shares of Copper One following the completion of the Shares for Debt Settlement.

The board and management of Copper One believe that the proposed Shares for Debt Settlement is in the best interests of the Company because the creditors have agreed to settle partial amounts of the debts owed to them for common shares at a price per share that represents a 25% premium to the closing market price of the company's common shares on the TSX Venture Exchange on November 17, 2014.

The Shares for Debt Settlement will not create a new Control Person holding more than 20% of the issued and outstanding shares of the company.

The shares for debt settlement is subject to the approval of the TSX Venture Exchange.

About Copper One

Copper One is focused on developing high-value copper and gold projects in leading mining jurisdictions. The Company is part of the Forbes & Manhattan Group of Companies, which has built, operated and sold mines in Canada and globally. The Copper One portfolio includes the Rivière Doré copper-nickel project, located near Val d'Or, Quebec, and the Queylus copper-gold project, located in the Chibougamau mining district in Quebec.

Forward-looking information

This news release contains forward-looking information relating to the Company's growth and corporate strategy, and other statements that are not historical facts. Forward-looking information relates to management's future outlook and anticipated events or results, and may include statements or information regarding the Shares for Debt Settlement; and the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks and uncertainties associated with oil and gas exploration, development, exploitation, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

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

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