Vancouver, British Columbia, October 5, 2022 – Cosa Resources Corp. (CSE: COSA) (“Cosa Resources” or the “Company”) is pleased to announce the appointment of Craig Parry as a Strategic Advisor to the Company, effective immediately. The Company also announces that it has retained Red Cloud Securities Inc. (“Red Cloud”) to provide market making liquidity services to the Company in compliance with the policies and guidelines of the Canadian Securities Exchange (“CSE”) and other applicable legislation.
Craig Parry has over 20 years in the resources sector, and is a co-founder and Partner of Inventa Capital, a private natural resource investment company. In addition to being a Partner of Inventa Capital, Craig is the Chairman of Vizsla Silver, Skeena Resources, and is a General Partner of EMR Capital and a former senior advisor to the fund.
Prior to Inventa Capital, Craig was a co-founder and founding director of NexGen Energy and was co-founder of IsoEnergy as its President, CEO and Director until 2021. He was a co-founder of the Tigers Realm Group and was appointed to the Boards of Tigers Realm Minerals and Tigers Realm Metals in 2011 and appointed CEO of Tigers Realm Coal in 2012. Craig, as an exploration and business development geologist, was responsible for the business development activities of the Tigers Realm Group since inception in 2008.
Prior to joining Tigers Realm, Craig was the Business Development Manager for G-Resources Limited responsible for mergers and acquisitions and Principal Geologist - New Business at Oxiana Limited responsible for strategy and business development initiatives in bulk and energy commodities. At Rio Tinto, Craig led exploration programs for iron ore, copper, diamonds, coal and bauxite in Australia, Asia and South America and was Principal Geologist for the Kintyre Uranium project pre-feasibility study. Craig holds an Honours Degree in Geology and is a Member of the AusIMM.
Craig Parry commented: “I’m very pleased to be working again with many former members of the IsoEnergy team, including Steve Blower, Keith Bodnarchuk, Wes Short and Janine Richardson. Together we’re creating a new Athabasca Basin focused uranium company to capitalize on the incredibly strong uranium market fundamentals that are currently before us.”
Red Cloud Securities Engagement
Subject to regulatory approval, the Company has retained Red Cloud to provide liquidity services to the Company in compliance with the policies and guidelines of the Canadian Securities Exchange (“CSE”) and other applicable legislation. Red Cloud is a Toronto-based financial services company that helps mineral exploration and mining companies with accessing capital markets and enhancing their corporate profile. Red Cloud will trade shares of Cosa Resources on the CSE for the purposes of maintaining a reasonable market and improving the liquidity of the Company’s common shares.
Under the agreement, the Company will pay Red Cloud $5,000 per month during the term, payable quarterly in advance. The term of engagement is ongoing and may be terminated by either party on 30 days’ prior written notice. The Company and Red Cloud have an arm’s length relationship, but Red Cloud and/or its clients may have an interest, directly or indirectly, in the securities of Cosa Resources. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company's common shares and is not a formal market making agreement. There are no performance factors contained in the agreement between Red Cloud and the Company and Red Cloud will not receive any shares or options from the Company as compensation for services it will render.
About Red Cloud Securities
Red Cloud Securities Inc. is registered as an Investment Dealer in Ontario, Quebec, Alberta and British Columbia and is a member of the Investment Industry Organization of Canada (IIROC). It is focused on providing unique comprehensive capital market services and innovative financing alternatives to the junior resource sector. The company was founded by capital markets professionals who designed the firm to service small public and private companies. This solution is a comprehensive platform that provides a full range of unconflicted corporate access services. Offering these services as a unified platform provides the ultimate value proposition for issuer clients.
Stock Option Grant
The Company would also like to announce that it has granted 25,000 incentive stock options to a consultant of the Company. The incentive stock options will vest over a period of two years, have an exercise price of $0.21 per share, and are valid for a 5-year period from the grant date. The options were granted pursuant to the Company’s incentive stock option plan.
Cosa Resources Corp.
Cosa Resources is a Canadian mineral exploration company based in Vancouver, BC and is currently focused on the exploration of its uranium and copper projects in northern Saskatchewan. The portfolio includes four uranium exploration properties; Ursa, Orion, Castor and Charcoal totaling 46,700 ha in the eastern Athabasca Basin. It also includes the Heron Project: three mineral claims approximately 180 km north of La Ronge, Saskatchewan that are prospective for sedimentary-hosted copper mineralization.
The team behind Cosa Resources has a track record of success in Saskatchewan, with a combined 45 years of experience in exploration, discovery, and development in the province.
Keith Bodnarchuk, President and CEO
+1 888-899-2672 (COSA)
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain “Forward‐Looking Statements” within the meaning of applicable securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward‐looking statements or information. These forward looking statements or information relate to, among other things: the exploration, development, and production at the Company’s mineral projects.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of the Company, future growth potential for the Company and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; the Company’s ability to operate in a safe and effective manner.
These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the speculative nature of exploration and development; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.