Kincora Copper completes prospectus for proposed listing on the Australian Securities Exchange

VANCOUVER, BCMarch 1, 2021 – Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV: KCC), is pleased to announce that it has lodged a Prospectus with the Australian Securities and Investments Commission (“ASIC”) in relation to its proposed dual listing on the Australian Securities Exchange (“ASX”).

Under the Prospectus, the Company proposes to raise a minimum of A$8,000,000 and a maximum of A$10,000,000 (in each case, before costs), by the issue of CHESS Depositary Interests (“CDIs”) over fully paid ordinary shares in the capital of the Company (“Shares”) (“the Offer”). A minimum of 40,000,000 CDIs and a maximum of 50,000,000 CDIs will be issued, at an issue price of A$0.20 per CDI. The CDIs will be issued at a ratio of 1 CDI for 1 Share.

Kincora’s chairman Cameron McRae commented: “In the Board’s view the ASX is the natural stock exchange for the Company, with Kincora’s primary focus and value drivers now related to our Lachlan Fold Belt (“LFB”) assets in NSW, Australia, where we seek to become the leading pure play explorer in what is Australia’s foremost copper porphyry belt.

Our assets and team are better known in this domestic market and by dual listing on the ASX we are seeking to access previously untapped local investors who have significant interest in funding local exploration projects.

We consider the listing will be positive for the future of the Company including for raising capital, liquidity and market valuation. “

Sam Spring, President & CEO, stated: “The Company plans to drill a minimum of over 17,000 metres across three projects in the LFB in the next 12 months as part of a minimum of 34,000 metres total drilling program, significantly expanding our ongoing drilling program that comprises two rigs currently operational at the Trundle project.  

With an enterprise value of C$11.5 million for the Offering that certainly provides investors very significant leverage to exploration success and pipeline of news flow.”

Morgans Corporate Limited and Bridge Street Capital Limited have been appointed Joint Lead Managers and Ernst & Young appointed Australian legal advisor. The Offer is expected to open on March 11th, 2021 with the expected commencement of trading on the ASX to be on or around March 30th, 2021.

The Company in consultation with the Joint Lead Managers will determine the allocation of CDIs under the Offer.

About Kincora Copper Limited (KCC – TSXV)

Kincora Copper is an active explorer and project generator focused on world-class copper-gold discoveries.

The Company is currently drilling the only brownfield project (Trundle) held by a listed junior in Australia’s foremost porphyry belt (the Macquarie Arc, in NSW), with district scale project pipeline, and seeking to confirm its position as the leading pure play porphyry explorer in Australia.

The Company has assembled an industry leading technical team who have made multiple Tier 1 copper discoveries, who have “skin in the game” equity ownership and who are backed by a strong institutional shareholder base.

Our exploration model applies a robust systematic approach utilising modern exploration techniques supporting high-impact, value add programs underpinned by targets with strong indications for world-class scale potential.

We have corporate offices in Vancouver and Melbourne. Kincora is listed on the TSX Venture Exchange under the ticker symbol KCC and is seeking a dual listing on the ASX.

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United StatesCanada or any other country. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

In accordance with section 734(6) of the Australian Corporations Act 2001 (Cth), the Company advises in respect of the offer of CDIs under the Prospectus:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.