Vancouver, B.C., September 18, 2018 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FWB: 1ZX) (the “Company” or “Chakana”), pleased to report it has been approved to uplist its common stock to the OTCQB® Marketplace effective September 17, 2018. The Company’s “CHKKF” trading symbol in the United States will remain unchanged. There is no action required by current shareholders as a result of this change.
“Uplisting to the OTCQB is another important milestone for our company.” States CEO David Kelley. “The listing demonstrates our commitment to executing our growth plan and providing existing and prospective stakeholders a greater degree of transparency and liquidity. It also exposes the company to a broader range of institutional investors.”
The OTCQB® Venture Market, operated by the OTC Markets Group Inc., offers transparent trading in entrepreneurial and development stage companies that have met a minimum bid price test, are current in their financial reporting and have undergone an annual verification and management certification process. These standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for CHKKF at https://www.otcmarkets.com/stock/CHKKF/quote.
The Company’s common shares will also continue to trade under the symbol “PERU” on the TSX Venture Exchange.
The timing of the uplist is a welcome addition to the recently announced drill results (see news release dated September 11, 2017) which included the company’s best hole drilled on the property to-date in terms of grade-thickness. The drilling demonstrates that Bx 1 extends from surface to 439m depth and is open at depth, highlighting the vertical extent that tourmaline breccia pipe targets potentially offer. Drill hole SDH18-071 cuts this vertical extent, returning 0.69% Cu, 1.45 g/t Au and 50.5 g/t Ag (2.07% Cu_EQ; 3.16 g/t Au_EQ). This hole deviated out of the pipe at 439m, leaving mineralization open to further extension. The company has completed a Phase 1 drilling program of 18,863m in 70 holes, with definition drilling on two of 14 confirmed breccia pipes that crop out at surface. Numerous other targets interpreted as the surface expression of blind pipes also exist on the property and remain to be tested. The Phase 2 drill program of 20,000 is currently underway testing two additional breccia pipes.
About Chakana Copper
Chakana Copper Corp. is a Canadian based minerals exploration company and through its wholly owned Peruvian subsidiary, Chakana Resources S.A.C., is currently advancing the Soledad project near Aija, in the Ancash region of the highly prolific Miocene Belt of Peru.
ON BEHALF OF THE BOARD
(signed) “David Kelley”
President and CEO
For further information contact:
Michelle Borromeo, Manager – Corporate Communications
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Project, the potential to grow the Project, the potential to expand the mineralization, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief about the unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.