12:36:42 EDT Wed 08 May 2024
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Infinitum Copper issues 1.15 million shares for debt

2022-08-10 17:22 ET - News Release

Mr. Steve Robertson reports

INFINITUM COPPER ANNOUNCES COMPLETION OF SHARES FOR DEBT

Infinitum Copper Corp. has completed its previously announced issuance of shares in exchange for mineral exploration services. The company entered into a debt settlement agreement with an arm's-length contractor, pursuant to which the company has now issued 1,156,770 common shares at a deemed value of 20 cents per common share in full satisfaction of the mineral exploration services.

The common shares issued in connection with the shares for debt will be subject to a four-month restricted resale period that expires on Dec. 10, 2022, and applicable securities legislation hold periods outside of Canada from the closing date. The share-for-debt arrangement is subject to all necessary approvals, including the approval of the final acceptance of the TSX Venture Exchange.

About Infinitum Copper Corp.

Backed by a strong team of industry veterans, Infinitum Copper is advancing La Adelita project, where the company has an option to earn an 80-per-cent interest. The high-grade copper-silver-gold La Adelita project is located in Sonora and Sinaloa states in Mexico, and is subject to a 2-per-cent net smelter return (NSR) royalty. La Adelita is a carbonate replacement deposit located in a mineralized district with a rich history. Infinitum Copper also has an option to earn a 100-per-cent interest in the Hot Breccia project in the heart of the Arizona copper belt about 90 kilometres north of Tucson, Ariz. The Hot Breccia project is prospective for porphyry copper and copper skarn mineralization.

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