TORONTO, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Camrova Resources Inc. ("Camrova" or the "Company") (TSX-V: CAV; OTC: BAJFF; SSEV: CAVCL, CAVUSD) wishes to announce that pursuant to debt settlement agreements previously announced on August 16, 2018, it has received final approval from the TSX Venture Exchange and has issued 1,954,440 common shares at a deemed per share price of $0.075 to fully settle an aggregate Cdn $146,583 of indebtedness owing to certain arm's length and non-arm's length creditors. The settlement shares are subject to a statutory hold period of four months plus a day in accordance with applicable securities law legislation.
About Camrova Resources Inc.
Camrova is a Canadian mining company. Camrova owns a 7.3% interest in the Boleo copper-cobalt-zinc mine located in Baja California Sur, Mexico. The Boleo Mine is projected to annually produce approximately 30,000 metric tonnes of copper, 700 metric tonnes of cobalt and 10,500 metric tonnes of zinc sulfate. The commissioning phase of the processing plant is complete, commercial production has been declared and the operator is actively seeking solutions to improve cash flow. Camrova is working to identify and evaluate alternative project opportunities that are consistent with its technical expertise and have the potential for near-term generation of cash flow and value creation.
For further information, please contact Camrova's CFO Kris Misir at 647-632-3444 (email: kris.misir@camrovaresources.com) or Interim CEO Tom Ogryzlo at 416-271-0879 (email at info@camrovaresources.com).
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.