CopperBank Resources Corp. (CSE: CBK) is pleased to announce that it has established a wholly owned subsidiary, CopperBank Royalties Corp., with a plan to augment the Company’s diverse portfolio of established copper projects by offering investors superior diversification into a comprehensive and complete portfolio of copper assets. This will include the Company’s 100% ownership of projects and royalties.
The Company will launch CopperBank Royalties Corp. with two royalty assets from CopperBank’s 100% owned Contact Copper Project located in Elko County, Nevada, and 100% owned Copper Creek Project located in Pinal County, Arizona. Additionally, CopperBank is actively evaluating other royalty assets for potential acquisition by CopperBank Royalties Corp.
CopperBank’s CEO, Gianni Kovacevic, comments “The royalty business model is a proven, cost effective way to significantly grow shareholder value in the natural resource space. CopperBank has a unique position in this space as we have organic royalty opportunities within the Company’s existing portfolio of projects. Segregating these two royalty assets into Copperbank Royalties Corp. affords us a near zero cost basis opportunity to unlock tremendous shareholder value. Subject to market conditions and the Company’s ability to complete additional mineral royalty acquisitions, the Company will consider spinning out the securities of CopperBank Royalties Corp. to our shareholders and listing the resulting entity on a Canadian stock exchange.”
The completion of any further royalty acquisitions, or potential spinout transaction and public listing of CopperBank Royalties Corp. will be subject to the completion of definitive agreements, regulatory approval and the approval of the Company’s board of directors.
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We acknowledge the [financial] support of the Government of Canada.