CRC.L Regulatory News (CRC)

24 Oct 2007 17:26

Copper Resources Corporation24 October 2007 24 October 2007 COPPER RESOURCES CORP DEBT CONVERSION Copper Resources Corp (AIM: CRC) ("the Company") announces that it has todayissued and allotted 5,025,873 common shares to L'Enterprise General MaltaForrest SPRL ("the Forrest Group") as settlement for a loan of approximatelyUS$7.5 million made to Miniere de Musoshi et Kinsenda SARL ("MMK"), theCompany's 75% owned subsidiary in the Democratic Republic of Congo. This debtconversion agreement had been entered into as part of the private placementannounced on 26 February 2007. Application has been made to the London Stock Exchange for these common sharesto be admitted to trading on AIM on 30 October 2007. Following this debt conversion, the total number of the Company's sharescurrently in issue is 81,065,064. Also, as a result, the Forrest Group's holdingis increased to 29,243,464 common shares, equivalent to 36.07%. Further to the announcement by Metorex Limited on 18 September 2007 that adefinitive, unconditional share purchase agreement ('SPA') was signed betweenMetorex and the Forrest Group on 14 September 2007, the entire Forrest Groupholding of 29,243,464 common shares in the Company is expected to be transferredto Metorex shortly, together with 4,049,929 options and warrants over CRC commonshares. Enquiries: Copper Resources Nabarro Wells & Co. Fox-Davies Capital GTH Corporation Limited Limited Communications Mitchell Alland Hugh Oram Richard Hail Toby Hall Executive Vice Chairman +44 (0)78 7569 5563 +44 (0)20 7710 7400 +44 (0)207 936 5200 +44 (0)20 7153 8035 This information is provided by RNS The company news service from the London Stock Exchange