Trilliant Exploration to Settle Outstanding Debt Issues
21 December 2013 - 1:02AM
Business Wire
Trilliant Exploration (TTXP:OTCQB) announced today that the
company has agreed to terms to restructure its current debt with
past debt holders.
“Finally we will have the ability to move forward into 2014 with
a capital structure consistent with being able to raise capital,"
said Eric Radtke, President of Trilliant Exploration Corporation.
“We have spoken with past debt holders who have agreed to reduce
their outstanding debt simply to allow the company to move forward.
As a result of this we are currently in talks with two large
funding sources who we expect will provide the capital and backing
for us to complete the final roll up of Copper Island into 2014 and
allow the company to complete its goals. Trilliant Exploration is
currently under negotiations and expects additional news imminently
to outline the 2014 plan,” he added.
Trilliant Exploration's Copper Island Mines Ltd. Project and its
rights and claims are located 15km NW of Campbell River, British
Columbia. Copper Island Mines Ltd. is the operator of a 3000
hectare property which is known for high grade chalcocite
mineralization. The area has been under regular development and
small scale production since 1915. The area contains one of the
highest densities of copper prospects in British Columbia and is
rated high for mineralization by the BCGS (British Columbia
Geological Survey). Initial exploration on the Property was
conducted by Dodge Copper in 1954 when 145 percussion holes were
drilled outlining the Pomeroy areas. Exploration in the 1970’s by
Prince Stewart Mines and Quadra Mining resulted in a historic
reserve estimate of 3.5 metric tons grading 2% copper. Exploration
in the 1990’s resulted in a historical resource estimate from all
occurrences of 5.3Mt grading 1.98% copper, and is used for
historical reference purposes only.
About Trilliant Exploration (TTXP:OTCQB)
http://www.trilliant-exploration.com Trilliant Exploration is
focused on a variety of strategic mineral acquisitions including
Copper and well positioned to capture the next wave in mineral
exploration, Lithium and Rare Earth metals. Trilliant Exploration
is a US based, high growth mining company focused on adding value
through successful exploration, project development, efficient
operations, and opportunistic acquisitions. Maintaining a low risk
profile through project diversification, astute financial
management and operating in secure jurisdictions are key priorities
for Trilliant Exploration’s Management team.
Forward-Looking Statements
This press release may contain certain forward-looking
statements within the meaning of Section 27A of the Securities and
Exchange Act of 1933, as amended, and Section 21E of the Securities
and Exchange Act of 1934, as amended, and such Forward Looking
Statements are intended to be covered by the safe harbors created
thereby. Investors are cautioned that all forward-looking
statements involve risks and uncertainties. All statements other
than statements of historical fact in this announcement are
forward-looking statements, including but not limited to the
viability of the company's business plans, the effect of
acquisitions on our profitability, the effectiveness,
profitability, and the marketability of the Company's products; the
Company's ability to protect its proprietary information; general
economic and business conditions; the volatility of the company's
operating results and financial condition; and other risks detailed
in the Company's filings with the Securities and Exchange
Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the company and the
industry. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or to changes in its expectations, except as may
be required by law. Although the company believes that the
expectations expressed in these forward-looking statements are
reasonable, management cannot assure the public that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
Contact: Mr. Mark EvansPhone: (212) 203-0310Email:
info@trilliant-exploration.comWeb:
www.trilliant-exploration.com
Trilliant ExplorationMr. Mark Evans, (212)
203-0310info@trilliant-exploration.comwww.trilliant-exploration.com
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