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Copper Standard Resources Inc.
Copper Standard Resources Inc.
Registriert in: Kanada WKN: A3E4WA Rohstoffe:
Art: Originalaktie ISIN: CA2169281011 Gold
Heimatbörse: CSE Alternativ: -
Währung: CAD    
Symbol: LVL.CSE Forum:

Level 14 Files Technical Report for Colpayoc Property and Management Information Circular for the Proposed Acquisition

23.12.2021 | 5:19 Uhr | Newsfile

Vancouver, December 22, 2021 - Level 14 Ventures Ltd. (CSE: LVL) ("Level 14" or the "Company") announces that, further to its press release dated November 17, 2021, it has filed on SEDAR a National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") compliant technical report (the "Report") with respect to the Colpayoc gold prospect in northern Peru, which is comprised of 3 concessions totaling approximately 1,580 hectares (the "Property"). The Report, entitled, "Technical Report on the Colpayoc Gold Property", is written by Steven L. Park and dated effective December 20, 2021. Mr. Park is a "qualified person" as defined in NI 43-101 and is independent of the Company.

The Report was prepared in connection with the Company's proposed acquisition of Bridle Capital Ltd. ("Bridle"), which is a privately held company that holds an option to acquire a 100% interest in the Property, as described in further detail in the press release dated November 17, 2021 (the "Transaction"). The Company is also pleased to announce that it has filed its management information circular and related proxy materials ("Meeting Materials") for the special (and annual general) meeting of shareholders of the Company to be held in connection with the Transaction.

The Report and Meeting Materials have been filed under the Company's profile on SEDAR at www.sedar.com.

As described in the press release dated November 17, 2021, in connection with the proposed Transaction Level 14 expects to complete a non-brokered private placement of shares for aggregate gross proceeds of C$3,000,000 (the "Concurrent Financing"). The Concurrent Financing is expected to be comprised of 15,000,000 shares of Level 14 at C$0.20 per share. If the Company proceeds with a proposed consolidation of the issued and outstanding common shares of the Company on the basis of one (1) post-consolidation share for every one and one half (1.5) pre-consolidation shares, as described in more detail in the Circular, the Concurrent Financing is expected to be comprised of 10,000,000 shares of Level 14 at C$0.30 per share. Net proceeds of the Concurrent Financing are intended to fund the proposed exploration programs for the Company's mineral properties, as well as to cover general working capital purposes. Finder's fees or commissions may be paid in connection with the Concurrent Financing in accordance with the policies of the Canadian Securities Exchange (the "Exchange").

About Level 14 Ventures Ltd.

Level 14 is an exploration-stage mining company with a focus on precious metals. The Company owns the Green Mountain Property through its wholly owned subsidiary. The Green Mountain Property, located in British Columbia, Canada, consists of 3 contiguous digitally registered mineral tenures totaling approximately 5,593.5 hectares. The Company intends to grow through the acquisition of other mineral properties and continues to evaluate other opportunities on an ongoing basis.

For further information or should you have any questions, please feel free to email us at info@level14ventures.com.

Marcel de Groot, Director

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking information in this news release includes, without limitation, statements regarding the completion of the proposed Transaction, the Concurrent Financing, the anticipated business plan of the Company subsequent to completion of the proposed Transaction, and growth through the acquisition of other mineral properties. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for precious metals or other minerals that may be produced generally, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108386

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