Trilliant Exploration to Settle Outstanding Debt Issuesadmin
Trilliant Exploration to Settle Outstanding Debt Issues
NEW YORK, NY, December 20, 2013 /FSC/ – 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1990’s resulted in a historical resource estimate from all occurrences of 5.3Mt grading 1.98% copper, and is used for historical reference purposes only.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.
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 Evans
Phone: (212) 203-0310
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Posted: December 20th, 2013 under FSCWIRE.