VANCOUVER, British Columbia, May 20, 2022 (GLOBE NEWSWIRE) — Allied Copper Corp. (TSX-V: CPR, CPRRF) (the “Company” Where “copper alloy”) has been requested by OTC Markets Group Inc. to release this statement about promotional activity regarding its common stock. On May 16, 2022, OTC Markets informed the Company that it had become aware of certain promotional activities relating to the Company and its common stock traded on the OTCQB Marketplace, including the distribution of a promotional email newsletter published by third parties managed by Emerging Markets Consulting LLC (“EMC“” dealing with the industry and the Company, its properties and the green energy sector (the “Promotional content”). OTC Markets has provided sample promotional material for your reference. The Company was aware of the Promotional Content prior to its publication on May 16, 2022.
Penny Picks and Beat Penny Stocks are third-party newsletters retained by EMC that was retained by the company to increase awareness and market share among its customer base and improve visibility with the retail and institutional investment community. The Company exercised editorial control over promotional content and was reviewed by management prior to publication. The Company does not believe that the statements in the Promotional Content were false or misleading. The nature of the relationship between Allied Copper and EMC and the compensation to be paid to EMC was made public on March 14, 2022 and the press release announcing the appointment is available on SEDAR.
In addition, the Company understands that this promotional activity may have coincided with an increase in trading activity in the Company’s common stock beginning on May 16, 2022. The Company believes that promotional activity played a role in the recent increase in the volume of trading in the Company’s common stock, as this was the first major distribution to a US investor base.
After investigation by management, none of the Company’s officers, directors or, to the knowledge of the Company, majority shareholders and third-party service providers, has sold or purchased shares of the Company during the past 90 last days.
Over the past twelve months, the company has worked with Streetwise Reports (November – April), Triple Bull Consulting (November – February) and Supercharged Stocks (November – October), to provide marketing or other related services. OTC Markets has further requested the Company to disclose whether it has issued shares or convertible instruments permitting conversion into equity securities at prices representing a discount to the prevailing market rate at the time of issue. The Company issued the following securities at a discount to market price in accordance with the policies of the TSX Venture Exchange and each was subject to a four month hold period.
- April 9, 2021 – 7,333,333 units at a price of $0.225 per unit convertible into 7,333,333 common shares and 7,333,319 common share purchase warrants at an exercise price of $0.30;
- April 29, 2021 – 8,333,333 units at a price of $0.30 per unit convertible into 8,333,333 common shares and 4,156,779 common share purchase warrants at an exercise price of $0.45; and
- August 11, 2021 – 13,076,004 subscription receipts at a price of $0.30 per subscription receipt convertible into 13,076,004 common shares and 6,538,002 common share purchase warrants at an exercise price of $0.45.
For more complete and specific information regarding the Company, its outlook and the risks associated with such outlook, readers should consult the Company’s public filings on SEDAR, its website and other reliable sources. The Company encourages investors to contact their investment advisers before making any investment.
About Alloyed Copper
Allied Copper Corp. (“Allied Copper”) (TSX-V: CPR) (CPRRF), headquartered in Vancouver, British Columbia, Canada, is a mineral exploration company focused on the acquisition and development of potential long-lived and scalable copper and/or gold assets in the western United States The Company’s strategy is to focus on low-cost operations with high growth potential. Allied Copper’s management is committed to operating efficiently and transparently in all areas of the business. Investors and/or readers can sign up to receive updates on the Company’s website. : www.alliedcoppercorp.com
On behalf of the Allied Copper Corp. Board of Directors,
Mr. Kyle Hookey
CEO and Acting Director
For any questions relating to investor relations or for further information, please contact:
Kyle Hookey CEO and Acting Director
Cell: +61 (431) 920 389
E-mail: [email protected]
Forward-looking statements – Safe Harbor
This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws. When used in this press release, the words “anticipate”, “believe”, “estimate”, expect”, “target”, “plan”, “expect”, “may”, “could” , “expect,” and similar words or phrases, identify forward-looking statements or information.
Forward-looking statements and forward-looking information regarding any future mineral production, liquidity, improving value and capital markets profile of Allied Copper, the potential for future growth of Allied Copper and its business, and future exploration plans are based on management’s reasonable assumptions and estimates, expectations, analyzes and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management considers relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions were made regarding, among other things, the price of copper and other metals; no escalation in the severity of the COVID-19 pandemic; exploration and development costs; estimated development costs of exploration projects; Allied Copper’s ability to operate safely and efficiently and its ability to obtain financing on reasonable terms.
This press release contains “forward-looking information” within the meaning of Canadian securities laws. Statements, other than statements of historical fact, may constitute forward-looking information and include, but are not limited to, statements about: the anticipated timing and content of future work programs, geological interpretations, receipt of securities ownership and potential copper recovery processes; expected dates for receipt of permits, approvals and other milestones; expected results of drilling programs, feasibility studies and other analyses; the expected availability and terms of future funding; future production, operating and capital costs; and operational or financial performance. Information regarding potential copper contingent resource estimates may also be considered forward-looking information to the extent that it reflects a prediction of the copper-bearing zones that would be encountered if a copper structure were developed and produced. With respect to the forward-looking information contained in this press release, the Company has made numerous assumptions regarding, among other things, the reliability of the geological, metallurgical, technical, financial and economic advice which the Company has received and which is based on industry standard practices and methodologies. Although the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. In addition, there are known and unknown risk factors that could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in the present. Known risk factors include, among others: fluctuations in commodity prices and exchange rates; uncertainties related to the interpretation of well results and the geology, continuity and grade of copper deposits; the uncertainty of capital and operating cost estimates, recovery rates, production estimates and estimated economic returns; the need for cooperation from governmental agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and the uncertainty as to the availability and terms of future financing; the possibility of delays in exploration or development programs or construction projects and uncertainty as to the achievement of planned program milestones; uncertainty as to the timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, skilled personnel and management. All forward-looking information contained herein is qualified in its entirety by this cautionary statement, and the Company undertakes no obligation to revise or update such forward-looking information or to publicly announce the outcome of any revision of any forward-looking information contained herein to reflect future results, events or developments, except as required by law.