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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 22, 2016) - Handa Copper Corp. (TSX VENTURE:HEC) ("Handa" or the "Company") announces that, as a result of a review by the British Columbia Securities Commission, it is issuing this news release to clarify its disclosure.
In its June 2015 corporate presentation (the "Corporate Presentation"), the Company disclosed an exploration target. The Company does not currently have any exploration targets. Further, in the Corporate Presentation the Company disclosed mineral resources/reserves that were contrary to National Instrument 43-101 ("NI 43-101"). Finally, information for adjacent properties was disclosed in the Corporate Presentation which was not compliant with NI 43-101. The Company wishes to retract the above referenced statements and advises that such statements should not be relied upon. The Company will be posting an amended Corporate Presentation on its website which addresses these deficiencies.
In its April 27, 2015 and May 2, 2015 news releases, the Company stated that the disclosure was reviewed and approved by Jon Stacey, a qualified person as defined by NI 43-101. The Company now understands that at the relevant times Mr. Stacey was not a member in good standing of a qualifying professional organization and therefore did not meet the definition of a qualified person under NI 43-101. The Company wishes to retract the disclosure in the April 7, 2015 and May 2, 2015 news releases and advises that such disclosure should not be relied upon.
On its website and in the Corporate Presentation, the Company did not identify and disclose the relationship to the Company of the qualified person who prepared, supervised the preparation of, or approved of the technical information it is disclosing as required by NI 43-101. The Company is finalizing discussions with a consulting geologist to act as its qualified person. Once that qualified person has been appointed and had an opportunity to complete a review of the Company's technical disclosure, the Company will amend its website and the Corporate Presentation to include the statement required by NI 43-101.
In those instances where the Company has amended, retracted or clarified previous disclosure, the Company advises readers not to rely on such statements as they may continue to be found in the public domain.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Handa Copper Corporation