July 29, 2016 14:13 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 29, 2016) - Handa Copper Corporation ("Handa Copper" or the "Company") (TSX VENTURE:HEC) announces that it has agreed to settle an obligation of $6,500 owed to an arms- length vendor by issuing 130,000 common shares at a deemed price of $0.05 per share (the "Transaction") in consideration of certain services provided to the Company by the vendor.
The Company is satisfying the foregoing indebtedness with common shares in order to preserve its cash for use on its exploration projects and for working capital. The Transaction is subject to the approval of the TSX Venture Exchange (the "Exchange") and the Company will issue the common shares once the Transaction contemplated has been approved by the Exchange.
The common shares issued in satisfaction of the indebtedness will be subject to a four-month hold period from the date of issuance.
About Handa Copper Corporation
Handa Copper is actively pursuing the exploration and development potential of a highly significant copper discovery in the Republic of Congo. The geological parallels between the West Congolian Belt and the Central African Copperbelt (CACB), the world's richest copper province, have been recognized since the 1930s. However, sustained modern exploration has never been carried out on the former until now.
Previously undisclosed archival records acquired by the Company, which included more than 10,000 stream sediment and soil samples, confirm the potential for CACB-style copper deposits on the Company's exploration licenses in the RoC. In addition, new data detailed soil sampling and geological mapping will assist the Company to effectively prioritize exploration targets for drilling.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Handa Copper CorporationMarek KreczmerCEO(604) firstname.lastname@example.org
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