Candente Copper’s Names Acting CFO and Oversubscription of Financing
Vancouver, British Columbia, March 19th, 2015. Candente Copper Corp. (TSX:DNT, BVL:DNT, US:CCOXF) (“Candente Copper” and/or the “Company”) is pleased to report that Faisel Hussein has been appointed Executive Vice President and Acting Chief Financial Officer of the Company.
“Faisel brings to our team extensive finance and strategic experience; he has successfully completed many billions of dollars in global capital markets execution including mine project financings, M&A execution, and capital raising. Appointing Faisel as Acting CFO underscores our focus to structure appropriate long-term financing for the Company’s 100% owned Cañariaco Project and proceed with completion of the Feasibility Study,” commented Joanne Freeze, CEO of Candente Copper.
Mr. Hussein has over fifteen years of finance and operations experience. Since 2010, he has been a Principal at Public Infrastructure Partners LLC (PIP), an operating platform and principal investor in the mining and energy sectors with offices in Toronto, New York, Houston, and Charlotte. From 2006 to 2010, Mr. Hussein was an investment banker with RBC Capital Markets where he co-founded the Los Angeles investment banking office, expanded the firm’s global footprint, and executed cross-border M&A and capital markets transactions. Prior to 2006, Mr. Hussein advised international governments regarding privatizations, large-scale utility operations restructurings, and bi-lateral donor agency investments. Mr. Hussein began his career as an investment banker in the NYC offices of Salomon Brothers.
Mr. Hussein serves as a Trustee for the Emory University Service Award and has been a guest lecturer at Tshinghua University in Beijing. He received his MBA with Stern Alumni Scholar distinction from NYU and BBA from Emory University with Dean’s List Honors.
Cameron Dong will remain with the Company assuming the role of Controller. We appreciate his dedication and flexibility and look forward to continuing to work together.
In addition, Candente Copper is pleased to announce that the non-brokered private placement launched on March 2, 2015 (news Release No. 067), is currently over-subscribed. As a result, the offering has been increased from Cdn$500,000 to approximately $650,000. Investors are welcome to participate in the private placement through 5pm PST on Friday, March 20, 2015.
Overall size of the financing will be increased to approximately 7.2M units. Terms of the financing have not changed. The units remain priced at $0.09 per Unit which consists of one common share and one half share purchase warrant. Each full warrant entitles the holder to purchase one additional common share for a two year period at a price of $0.15 per common share.
Joanne Freeze, CEO and Director of the Company, and other directors are to subscribe for a portion of the Private Placement, which in total will be less than 25% of Candente Copper’s market capitalization. The Company is therefore relying upon exemptions from the valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions.
Net proceeds of the Private Placement will be used for general corporate purposes.
About Candente Copper
Candente Copper is a mineral exploration company engaged in the acquisition, exploration and development of mineral properties. The company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.
On behalf of the Board of Candente Copper Corp.
“Joanne C. Freeze” P.Geo.