VANCOUVER, BC, Oct. 28, 2021 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company") (TSXV: COCO) (formerly Roughrider Exploration Limited) wishes to announce that it has retained the services of Vancouver-based Mars Investor Relations Inc. ("Mars"), a full-service investor relations and consulting services company focused on the junior mining sector. Under the terms of the engagement agreement (the "Agreement"), Coast Copper will compensate Mars $180,000 over the 12-month initial term of the Agreement and has granted Mars stock options (the "Mars Options") exercisable to acquire an aggregate of 500,000 common shares at a price of $0.10 per share until October 27, 2026. The Mars Options shall vest quarterly over a period of 12 months, with 25% vesting each quarter. The Mars Options and any shares issuable upon exercise thereof are subject to a hold period of four months and one day. Mars may from time to time acquire or dispose of securities of the Company through the market, privately or otherwise, as circumstances or market conditions warrant. Mars and Coast Copper are non-arm's-length parties as a result of a common Insider, but otherwise have no other relationship except pursuant to the Agreement. Mars and/or its affiliates currently hold 4,487,400 common shares of the Company.
Coast Copper has also granted a total of 2,015,000 stock options to Directors, Officers, employees and consultants of the Company pursuant to the Company's 10% rolling Stock Option Plan, with the stock options having the same terms as the Mars Options.
The Mars Agreement and all stock options granted are subject to regulatory approval.
Adam Travis, the Company's CEO, comments: "We look forward to working with the Mars team to move Coast Copper into the next phase as we prepare for drilling at the Empire Property."
About Coast Copper Corp.
Coast Copper's exploration focus is the optioned Empire Mine Property, located on Northern Vancouver Island, B.C., which covers three historical open pit mines and two past-producing underground mines that yielded iron, copper, gold and silver. Coast Copper's other properties include its 100% owned Eldorado, Gin and Bonanza properties located in the Golden Triangle of northern B.C. which are adjacent to the Red Chris Mine, the Knob Hill NW Property located on northern Vancouver Island and the 100% owned Sterling, Sandy and Home Brew properties which are located in central B.C. Coast Copper's management continues to review precious and base metals opportunities in western North America.
On Behalf of the Board of Directors:
Adam Travis, Chief Executive Officer and Director
Neither 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.
SOURCE Coast Copper Corp
View original content: http://www.newswire.ca/en/releases/archive/October2021/28/c5101.html