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Calgary, AB – TheNewswire – May 19, 2022 – Tocvan Ventures Corp. (there “Company“) (CSE:TOC); (OTC: TCVNF); (WKN:TV3/A2PE64), am pleased to inform you that Iyou signed an assignment contract (the “Deal“) for the sale of the Rogers Creek project to Cascade Copper Corp. (“Copper Waterfall“). The transaction consisted of the sale of the Company’s Rogers Creek project in exchange for 5,000,000 common shares of Cascade Copper, a private Alberta company that intends to conduct an initial public offering to the savings and to list its common shares on a Canadian stock exchange later this year. The Company’s Board of Directors has set
May 31, 2022 as the record date for the dividend of 5,000,000 common shares of Cascade Copper to be distributed to shareholders of the Company. The distribution of Cascade Copper common stock was originally structured as a derivative transaction via a plan of arrangement, as announced on September 29, 2021, but management decided that the sale of Roger’s Creek under the agreement was a more cost-effective approach to distributing Cascade Copper common stock to shareholders.
Each shareholder of record as of the close of business on May 31, 2022 will receive, on the distribution date, one common share of Cascade Copper for each 6.5384044 common shares held in the Company. The stock dividend is expected to be distributed to the Company’s shareholder at or near the time Cascade Copper completes its IPO. No action is required on the part of shareholders in order to receive common shares of Cascade Copper as part of the dividend distribution.
“Completion of this transaction means we can unlock the value of Rogers Creek’s asset for our shareholders and ensure it gets the attention it deserves through Cascade Copper,” commented Brodie Sutherland, CEO. “We are excited about the potential of
Cascade Copper and the new management behind it. It also allows Tocvan to focus on its core assets in Sonora, Mexico, where we have experienced phenomenal growth over the past two years. »
About Cascade Copper and Rogers Creek
Cascade Copper will be a new exploration company focused on developing copper and gold-based assets in British Columbia. A new management team with extensive experience in the region plans an initial public offering of Cascade Copper later in 2022 on the Canadian stock exchange.
The Rogers Creek property covers 212.34 km2 in the coastal mountain belt of British Columbia, about 90 km northeast of Vancouver, British Columbia. The Rogers Creek project has grown from a small showing discovered on a logging road in 2007 to an advanced exploration stage property with evidence of a large mineralized system. Mineralization is hosted in Miocene-aged intrusions of the Cascade magmatic arc of southwestern British Columbia, which have received very little modern exploration.
Porphyry-related alteration and mineralization have been identified in four (4) target areas on the Rogers Creek property. The most extensive alteration/mineralization zone has been identified in Target Areas I and II in a 6 km x 2 km area that exhibits extensive propylitic alteration (pyrite-carbonate-chlorite-epidote). Several stages and styles of mineralization typical of porphyry systems are present in this area and have been observed in both surface outcrop and drill core.
The most interesting mineralization to date was observed in hole MRC-007 (drilled in 2011) which intersected 380 ppm
Cu on 150.9 meters. Drill testing of geological and geophysical targets coincident with this target has now been prioritized.
Follow-up work in 2019 relocated and analyzed a core with short wave infrared (SWIR) confirming the presence of altered clay minerals coincident with porphyry deposits and increasing with the mineralization recorded in drill hole MRC-007.
About Tocvan Ventures Corp..
Tocvan is a well-structured exploration development company. Tocvan was created to capitalize on the prolonged downturn in the junior mining exploration sector, by identifying and brokering interest in opportunities where management feels they can build on past successes. Tocvan has approximately 32 million shares outstanding and is gaining 100% in two attractive opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project. Management believes that both projects represent a tremendous opportunity to create shareholder value.
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking information” which may include, but is not limited to, statements regarding activities, events or developments that the Company expects or anticipates will or may occur in the coming. Forward-looking information in this press release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is planned”, “budget”, “expected”, “estimates”. , “predictions”, “intends”, “anticipates” or “believes” or variations (including negative variations) of these words and phrases, or state that certain actions, events or results “may”, ” could”, “could” or “will” be taken, occur or be carried out.
These forward-looking statements, and any assumptions on which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management considers these assumptions to be reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors that may 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. These factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s stage of development and the Company’s financial condition. The forward-looking statements contained herein are made as of the date of this press release, and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except if it may be required by securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
For more information please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
820-1130 Pender Street West
Vancouver, BC V6E 4A4
Telephone: 1 888 772 2452
This press release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any state securities law and may not be offered or sold in the United States or to US persons unless registered under United States securities law and applicable state securities laws or an exemption from such registration is available.
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