News

Kombat Copper Inc. (TSX-V: KBT) (“Kombat Copper” or the “Company”) has closed the previously announced non-brokered private placement pursuant to which it has issued 3,250,000 subscription receipts (“Subscription Receipts”) to Rodinia Lithium Inc. (“Rodinia”) at a price of $0.08 per Subscription Receipt for gross proceeds of $260,000 (the “Offering”).

The gross proceeds of the Offering will be held in escrow until the following conditions are met:

• The common shareholders of Rodinia approve Rodinia’s proposed change of business to a tier 2 investment company under the rules of the TSX Venture Exchange (“Proposed COB”) at a meeting of the common shareholders of Rodinia scheduled to be held on August 11, 2016 (the “Rodinia Shareholders’ Meeting”); and
• The TSX Venture Exchange granting Rodinia final approval of the Proposed COB.

Upon completion of the conditions precedent, each Subscription Receipt will entitle the holder to acquire, automatically and without any additional payment, one common share of Kombat Copper (a “Share”) and one common share purchase warrant (a “Warrant”). If the conversion of the Subscription Receipts does not occur on or before 10 business days after the Rodinia Shareholders’ Meeting is held, Rodinia will be entitled to a return of its full subscription price.

Each Warrant will entitle Rodinia to acquire one Share (a “Warrant Share”) at a price of $0.13 per Warrant Share at any time on or before the date that is three years from the date of issue of the Warrants, subject to an acceleration provision whereby if after the expiry of the statutory hold period, the Shares trade at $0.30 or higher on the TSX Venture Exchange, on a volume weighted average basis for a period of 30 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.
The Subscription Receipts and the underlying securities will all be subject to a four month statutory hold period. The proceeds are intended be used for general corporate purposes.

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Kombat Copper Inc. (TSX-V: KBT) (“Kombat Copper” or the “Company”) announces that it has entered into a subscription agreement with Rodinia Lithium Inc. (“Rodinia”) for Rodinia to subscribe for, on a non-brokered private placement basis, 3,250,000 subscription receipts (“Subscription Receipts”) at a price of $0.08 per Subscription Receipt for gross proceeds of $260,000 (the “Offering”).

Each Subscription Receipt will entitle the holder to acquire one common share of Kombat Copper (a “Share”) and one common share purchase warrant (a “Warrant”) automatically without any additional payment upon the completion of the following conditions:

• The common shareholders of Rodinia approving Rodinia’s proposed change of business to a tier 2 investment company under the rules of the TSX Venture Exchange (“Proposed COB”) at a meeting of the common shareholders of Rodinia to be called to approve the Proposed COB (the “Rodinia Shareholders’ Meeting”); and
• The TSX Venture Exchange granting Rodina final approval of the Proposed COB.

Each Warrant will entitle Rodinia to acquire one Share (a “Warrant Share”) at a price of $0.13 per Warrant Share at any time for before the date that is three years from the date of issue, subject to an acceleration provision whereby in the event that at any time after the expiry of the statutory hold period, the Shares trade at $0.30 or higher on the TSX Venture Exchange, on a volume weighted average basis for a period of 30 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.

The gross proceeds from the Offering will be held in escrow pending satisfaction or waiver of the conditions precedent. If the conversion of the Subscription Receipts does not occur on or before 10 business days after the Rodinia Shareholders’ Meeting is held, Rodinia will be entitled to a return of its full subscription price.

The Subscription Receipts and the underlying securities will all be subject to a four month statutory hold period.

Closing of the Offering is expected to occur on or about June 30, 2016 and remains subject to a number of conditions, including without limitation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The proceeds from the Offering will be used for general working capital purposes.

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Kombat Copper Inc. (TSX-V: KBT) (“Kombat Copper” or the “Company”) today announces that it has appointed Stephan Theron as President and CEO of Kombat Copper. Paul Bozoki will return to his role as CFO and Heidi Gerry will resume her role as Corporate Controller. Mr. Theron will also join the board of directors of Kombat Copper (the “Board”) replacing Mr. Bozoki.

Mr. Theron brings to Kombat Copper 17 years of extensive management, capital project development and M&A experience within the mining industry. Prior to joining Kombat Copper, Mr. Theron was Managing Director at Liberty Metals & Mining, a private equity group based in Boston, Massachusetts. Mr. Theron was also a strategic member on the board of directors of True Gold Mining. Prior to his work in Boston, Stephan was President & CEO at Forbes & Manhattan Coal Corp., based in Toronto. While he worked at Forbes Coal, he led the acquisition, restructuring and development of two coal mines in South Africa. He has structured numerous mining focused investments and has worked on mining projects throughout Africa and North America. Mr. Theron holds two degrees in Finance and is a Certified General Accountant.

Justin Reid, Executive Chairman of Kombat Copper commented: “The Board of Kombat Copper is pleased to welcome Stephan as our new President and CEO. Stephan’s extensive operational and African-focused experience, coupled with his detailed knowledge of project funding and investing will act to not only strengthen our core group, but position the Company as we advance through our previously announced mid-term initiatives and ultimately move back towards full scale production. We have a lot of work to do, and we believe Stephan is the right person to lead us. The Board would also like to thank Paul Bozoki, who will be returning to his role as CFO. Paul skillfully stepped in as CEO as we worked on our final restructuring plan.”

Stephan Theron, President and CEO of Kombat Copper, commented: “I am pleased to join Kombat Copper at an important time in the copper price cycle. The Kombat Mine is very well positioned to act as a platform for future growth in Africa and potentially beyond. I’m looking forward to getting started, further enhancing the team’s strength and implementing the mine development strategy.”

In connection with Mr. Theron’s appointment, the Company has granted Mr. Theron 1,500,000 stock options in accordance with the Company’s stock option plan. The options have an exercise price of $0.05 and will expire five years from the date of grant. The options will vest immediately. The grant of options remains subject to the approval of the TSX Venture Exchange.

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Kombat Copper Inc. (TSX-V: KBT) (“Kombat Copper” or the “Company”) and its management team are pleased to provide its shareholders with the following update on EBM Mining Namibia’s progress at the Kombat Mine site.

Plant Refurbishment and Mining Update

Kombat Copper previously reported that refurbishment activities have been progressing well. This status continues and EBM has reported that they have successfully reached an agreement to acquire a surplus mill from a major African mining company located in close proximity to Kombat’s operations. With this acquisition, all the necessary major components needed for refurbishing and restarting the Kombat mill have been secured. EBM is now completing a full technical assessment of the facility.

As Kombat has advised in previous releases, mining will initially commence at Gross Otavi and is on track to start during June. Ore will be stockpiled until the mill is operational.

Aggregate Byproduct Opportunities

Kombat Copper has determined that selling and distributing aggregate and sand byproducts from mining processes continue to be an important opportunity for the Company. With that in mind, the scope of EBM’s mining contractor agreement has been expanded to assist the Company with selling its waste rock as construction aggregate. Two opportunities are currently being evaluated, to sell aggregate for a housing development and as railroad ballast. Management expects to have further details on these potential byproduct sale agreements mid-way through the third quarter.

Offtake Agreement Update

Discussions are in progress with several groups for copper and lead concentrate offtake agreements. Management is aiming to conclude agreements during the third quarter.

Paul Bozoki, President and CEO of Kombat Copper, commented: “I am very pleased to report that the refurbishment of the mill and preparations at the mine site are moving along as planned. The management team is preparing for a very exciting third quarter as we move closer to getting the Kombat Mine back into production.”

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Kombat Copper Inc. (TSX-V: KBT) (“Kombat Copper” or the “Company”) has completed its previously announced non-brokered private placement financing comprising 11,067,500 units at a purchase price of $0.08 per Unit for gross proceeds of $885,400 (the “Offering”).

Each Unit is comprised of one common share in the capital of Kombat Copper (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share (a “Warrant Share”) at a price of $0.13 per Warrant Share at any time before the date that is three years from the date of issue. If at any time after the expiry of the statutory hold period, the Shares trade at $0.30 or higher on the TSX Venture Exchange, on a volume weighted average basis for a period of 30 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.

The securities underlying the Units, including the Shares and Warrants issued on closing, as well as the Warrant Shares issuable upon due exercise of the Warrants, will all be subject to a four month statutory hold period which expires on September 18, 2016. Closing of the Offering remains subject to receipt of all necessary regulatory approvals, including final approval of the TSX Venture Exchange.

The proceeds from the Offering will be used for general working capital purposes. In connection with the closing of the Offering, the Company paid cash finder’s fees of $7,740.

Certain insiders of the Company have subscribed for Units pursuant to the Offering (the “Insider Participation”). The Insider Participation will be considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The Insider Participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

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