Cascadero Copper is pleased to report that on December 21st 2015 it sold to Regberg Ltd., a 25% interest in SESA Holdings LLC (SHL) for a total of US$850,000. SHL is an existing legal Joint Venture and was a wholly owned subsidiary of the Company. Regberg is a private company based in Singapore. SHL operates as a Joint Venture that manages Cascadero's business interest, which is comprised of 26 Mineral Tenures in the Republic of Argentina. The two Members of the SHL Operating Agreement are Cascadero Copper with a 75% interest and Regberg with a 25% interest.
Regberg acquired its 25% Operating Interest in SHL by way of a Trust Declaration Agreement. No shares of any of the four (4) corporations involved and subject to the Trustee Agreement were sold or transferred. Two of the corporations are registered in the Republic of Argentina, one in Nevada and one is registered in British Columbia. All are wholly owned subsidiaries of Cascadero Copper and Cascadero is the Trustee of the Agreement.
The transaction is not subject to agency or finder fees and has a Term of three (3) years. The Company also granted Regberg the right to purchase an additional five (5) percent interest in SHL at any time during the Term of the Agreement for a one time payment of US$175,000.
Regberg is a sophisticated investor and completed its own due diligence and received independent legal advice. The Company welcomes Regberg as a valuable Joint Venture partner.
Cascadero Copper Corporation
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.