Global Copper Group Inc.

Global Copper Group Inc.

February 01, 2016 16:48 ET

Global Copper Summary of Current Developments

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 1, 2016) - On October 23, 2015 Global Copper Group Inc. ("Global Copper") (TSX VENTURE:ICU) announced that it had signed a Letter of Intent as a result of which it would be reviewing data available with respect to a copper mining project in North Eastern Mexico. Following a review of the information and in light of the existing capital market conditions, Global Copper now announces that it will not proceed with this possible acquisition.

The Company continues to review mineral copper opportunities and has identified other prospects of potential merit. Should any of these prospects materialize, further announcements will be made.

As a separate corporate development, Global Copper announces that Jevin Werbes has been appointed a Director and Chairman of the Board.

Mr. Werbes is also the President & CEO of Carmax Mining Corp., a British Columbia corporation currently developing the Eaglehead property located in the Dease Lake area of the Province of British Columbia. Mr. Werbes brings more than 20 years of experience in the local mining markets to Global Copper.

"Existing market conditions have resulted in the availability of well-defined prospective mineral projects that fit Global Copper's asset acquisition criteria," says Daniel Caamano, President & CEO. "The Company will continue to aggressively pursue relevant opportunities. Additionally, Global Copper welcomes Jevin Werbes onto the management team. His extensive experience and financial connections will be a critical asset for the company."

About Global Copper Group Inc.

Global Copper Group Inc. is a publicly traded Canadian exploration company listed on the TSX-Venture Exchange (TSX VENTURE:ICU) focused on copper exploration and development. The company plans to acquire, de-risk and advance copper assets in mining friendly jurisdictions prior to seeking joint venture partnerships.

On behalf of the Board of Directors

Daniel Caamano, President and CEO

Global Copper Group Inc.

We seek safe harbor.

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.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Statement on Forward Looking Statement

Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward looking statements". Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information in this news release includes, but is not limited to, statements about strategy, future operations and prospects.

Contact Information

  • Global Copper Group Inc.
    Daniel Caamano
    President & CEO

    Global Copper Group Inc.
    Judy A. McCall
    Corporate Secretary