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Globe and Mail
39 minutes ago
- Globe and Mail
Cogeco Announces Q3 2025 Financial Results and Canadian Wireless Launch
Continued strength in Canadian Internet customer growth. Canadian wireless launch underway, with a first cohort of users already on the service and expansion into 12 Canadian markets over the coming weeks. Updated fiscal 2025 financial guidelines reflect lower revenue, stable adjusted EBITDA, lower net capital expenditures and higher free cash flow compared to previously issued financial guidelines. MONTRÉAL , July 15, 2025 /CNW/ - Today, Cogeco Inc. (TSX: CGO) ("Cogeco" or the "Corporation") announced its financial results for the third quarter ended May 31, 2025. "Our financial results for the third quarter of fiscal 2025 were notable for our strong Canadian Internet subscriber loading, efficiencies-driven margin expansion and significant free cash flow," stated Frédéric Perron, President and CEO. "We are deeply excited to ramp up our wireless customer base in Canada over the coming weeks, adding to our prior launch of a similar service in the U.S. last year. Wireless will become a powerful tool to retain and grow our North American wireline customer base over time. "We already have a first cohort using the wireless service and are progressively expanding to cover 12 Canadian markets ( Alma , Magog , Rimouski , Saint-Georges , Saint-Hyacinthe , Saint-Sauveur and Trois-Rivières in Québec, and Brockville , Chatham , Cobourg , Cornwall and Welland in Ontario ) over the coming weeks, in anticipation of a full geographic deployment in the fall season. "We continued to solidly grow our Canadian Internet customer base for yet another quarter. While we experienced higher-than-usual customer losses in the U.S., this was partially caused by a few temporary factors. We are implementing several go-to-market enhancements as part of our transformation, and are confident that our U.S. customer trends will improve as these initiatives are executed over the coming quarters. "At Cogeco Media, while radio advertising continues to face a challenging market, revenue increased during the quarter, helped in part by ongoing growth of our digital advertising solutions and strong listener engagement. Our leading radio stations have continued to achieve strong market share in their target markets from recent audience surveys." Operating results For the third quarter of fiscal 2025 ended on May 31, 2025: Revenue decreased by 2.4% to $758.5 million . On a constant currency basis (2), revenue decreased by 3.9%, mainly explained as follows: American telecommunications' revenue decreased by 3.5%, or 6.6% in constant currency, mainly due to a decline in our subscriber base, especially for entry-level services, and to a higher proportion of customers subscribing to Internet-only services. Canadian telecommunications' revenue decreased by 1.8%, mainly due to a lower revenue per customer as a result of a decline in video and wireline phone service subscribers as an increasing proportion of customers subscribe to Internet-only services, as well as a competitive pricing environment, partly offset by the cumulative effect of high-speed Internet service additions over the past year. Revenue in the media activities increased by 4.4%, helped in part by ongoing growth of our digital advertising solutions and strong listener engagement. Adjusted EBITDA decreased by 0.5% to $367.8 million . On a constant currency basis, adjusted EBITDA decreased by 2.0% mainly due to lower revenue in both the American and Canadian telecommunications segments, offset in part by lower operating expenses driven by cost reduction initiatives and operating efficiencies across the Corporation as a result of our ongoing three-year transformation program. American telecommunications' adjusted EBITDA decreased by 0.5%, or 3.7% in constant currency. Canadian telecommunications' adjusted EBITDA decreased by 1.5%, or 1.3% in constant currency. Profit for the period amounted to $74.0 million , of which $20.5 million , or $2.13 per diluted share, was attributable to owners of the Corporation compared to $75.3 million , $19.0 million , and $1.97 per diluted share, respectively, in the comparable period of fiscal 2024. The decreases in profit for the period resulted mainly from higher depreciation and amortization expense, financial expense and income tax expense, as well as non-cash pre-tax impairment charges of $2.6 million , mostly related to assets under construction write-offs, and lower adjusted EBITDA, partly offset by lower acquisition, integration, restructuring and other costs. The increase in profit for the period attributable to owners of the Corporation reflected a higher proportional decrease in the profit for the period attributable to non-controlling interest. Adjusted profit attributable to owners of the Corporation (3) was $23.1 million , or $2.40 per diluted share (3), compared to $29.1 million , or $3.02 per diluted share, last year. Net capital expenditures were $125.8 million , a decrease of 25.9% compared to $169.8 million in the same period of the prior year. In constant currency, net capital expenditures (2) were $123.6 million , a decrease of 27.2% compared to last year, mainly due to operational efficiencies, lower spending in the Canadian telecommunications segment, partially due to the timing of certain initiatives, as well as lower spending in the American telecommunications segment, mostly due to lower construction activity. Net capital expenditures in connection with network expansion projects were $13.3 million ( $13.2 million in constant currency) compared to $24.4 million in the same period of the prior year. Excluding network expansion projects, net capital expenditures were $112.5 million , a decrease of 22.6% compared to $145.3 million in the same period of the prior year. In constant currency, net capital expenditures, excluding network expansion projects (2) were $110.4 million , a decrease of 24.0% compared to last year. Fibre-to-the-home network expansion projects continued, mostly in Canada , with the addition of close to 9,500 homes passed during the third quarter of fiscal 2025. Acquisition of property, plant and equipment decreased by 26.8% to $126.2 million , mainly resulting from lower spending. Free cash flow (1) increased by 63.6%, or 61.9% in constant currency, and amounted to $147.5 million , or $146.0 million in constant currency (2), mainly due to lower net capital expenditures and acquisition, integration, restructuring and other costs, offset in part by higher financial expense and current income taxes, as well as lower adjusted EBITDA. Free cash flow, excluding network expansion projects (1) increased by 40.3%, or 38.9% in constant currency, and amounted to $160.8 million , or $159.2 million in constant currency. Cash flows from operating activities increased by 19.8% to $401.4 million , mostly due to higher cash from other non-cash operating activities, and lower income taxes paid, partly offset by higher interest paid. At its July 15, 2025 meeting, the Board of Directors of Cogeco declared a quarterly eligible dividend of $0.922 per share, an increase of 8.0% compared to $0.854 per share in the comparable quarter of fiscal 2024. FISCAL 2025 REVISED FINANCIAL GUIDELINES Cogeco has revised its fiscal 2025 financial guidelines as issued on October 31, 2024 for revenue, net capital expenditures and free cash flow. Adjusted EBITDA projections remain the same as previously disclosed. The Corporation expects additional pressure on its revenue, particularly in the United States , driven by increased competition. As part of its three-year transformation program, the Corporation has initiated several cost reduction initiatives and operating efficiencies across the organization in order to minimize the revenue impact on adjusted EBITDA. Additionally, net capital expenditures are expected to be lower than under the previous financial guidelines, partially resulting from operational efficiencies following the combination of the Canadian and U.S. management teams. Consequently, compared to fiscal 2024, on a constant currency and consolidated basis, we are lowering Cogeco's revenue projections for fiscal 2025 to a low single digit decline, while adjusted EBITDA is expected to remain stable. In addition, due to some better-than-anticipated transformation-related cost savings and lower expected net capital expenditures, we are increasing the Corporation's free cash flow financial guidelines, from a decrease compared to fiscal 2024 to a stable free cash flow, while reducing net capital expenditures projections. (1) Percentage of changes compared to fiscal 2024. (2) Fiscal 2025 financial guidelines are based on a USD/CDN constant exchange rate of 1.3606 USD/CDN. (3) The assumed current income tax effective rate is approximately 11.5% (14% under the previous financial guidelines). These financial guidelines, including the various assumptions underlying them, contain forward-looking statements concerning the business outlook for Cogeco, and should be read in conjunction with the "Forward-looking statements" section of this press release. ___________ (1) During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Comparative figures were restated to conform to the current presentation. For further details, please refer to the "Non-IFRS Accounting Standards and other financial measures" section of this press release. (2) Adjusted EBITDA and net capital expenditures are total of segments measures. Constant currency basis, adjusted profit attributable to owners of the Corporation, net capital expenditures, excluding network expansion projects, free cash flow and free cash flow, excluding network expansion projects are non-IFRS Accounting Standards measures. Change in constant currency and adjusted diluted earnings per share are non-IFRS Accounting Standards ratios. These indicated terms do not have standardized definitions prescribed by IFRS ® Accounting Standards, as issued by the International Accounting Standards Board ("IFRS Accounting Standards") and therefore, may not be comparable to similar measures presented by other companies. For more information on these financial measures, please consult the "Non-IFRS Accounting Standards and other financial measures" section of this press release. (3) Excludes the impact of non-cash impairment charges and acquisition, integration, restructuring and other costs, net of tax and non-controlling interest. (4) Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance. Financial highlights Three and nine months ended May 31 2025 2024 (1) Change Change in constant currency (2) (3) 2025 2024 (1) Change Change in constant currency (2) (3) (In thousands of Canadian dollars, except % and per share data) $ $ % % $ $ % % Operations Revenue 758,527 777,249 (2.4) (3.9) 2,276,734 2,305,329 (1.2) (2.8) Adjusted EBITDA (3) 367,828 369,786 (0.5) (2.0) 1,095,817 1,083,601 1.1 (0.4) Acquisition, integration, restructuring and other costs (4) 8,996 46,634 (80.7) 7,992 51,121 (84.4) Profit for the period 73,962 75,285 (1.8) 258,968 267,944 (3.3) Profit for the period attributable to owners of the Corporation 20,504 18,960 8.1 68,485 77,498 (11.6) Adjusted profit attributable to owners of the Corporation (3)(5) 23,146 29,102 (20.5) 70,696 93,486 (24.4) Cash flow Cash flows from operating activities 401,375 335,126 19.8 860,110 858,427 0.2 Free cash flow (1)(3) 147,535 90,164 63.6 61.9 412,791 332,710 24.1 23.0 Free cash flow, excluding network expansion projects (1)(3) 160,820 114,597 40.3 38.9 463,448 413,193 12.2 11.3 Acquisition of property, plant and equipment 126,223 172,404 (26.8) 440,072 507,427 (13.3) Net capital expenditures (3)(6) 125,752 169,754 (25.9) (27.2) 435,527 488,177 (10.8) (12.5) Net capital expenditures, excluding network expansion projects (3) 112,467 145,321 (22.6) (24.0) 384,870 407,694 (5.6) (7.6) Per share data (7) Earnings per share Basic 2.16 1.99 8.5 7.21 6.58 9.6 Diluted 2.13 1.97 8.1 7.10 6.52 8.9 Adjusted diluted (3)(5) 2.40 3.02 (20.5) 7.33 7.87 (6.9) Dividends per share 0.922 0.854 8.0 2.766 2.562 8.0 (1) During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Proceeds from sale and leaseback and other disposals of property, plant and equipment amounted to $2.2 million and $22.7 million for the three and nine-month periods ended May 31, 2025, respectively ($0.9 million and $2.8 million, respectively, for the same periods of fiscal 2024). Comparative figures were restated to conform to the current presentation. For further details, please refer to the "Non-IFRS Accounting Standards and other financial measures" section of this press release. (2) Key performance indicators presented on a constant currency basis are obtained by translating financial results from the current periods denominated in US dollars at the foreign exchange rates of the comparable periods of the prior year. For the three and nine-month periods ended May 31, 2024, the average foreign exchange rates used for translation were 1.3628 USD/CDN and 1.3578 USD/CDN, respectively. (3) Adjusted EBITDA and net capital expenditures are total of segments measures. Adjusted profit attributable to owners of the Corporation, free cash flow, free cash flow, excluding network expansion projects and net capital expenditures, excluding network expansion projects are non-IFRS Accounting Standards measures. Change in constant currency and adjusted diluted earnings per share are non-IFRS Accounting Standards ratios. These indicated terms do not have standardized definitions prescribed by IFRS Accounting Standards and therefore, may not be comparable to similar measures presented by other companies. For more information on these financial measures, please consult the "Non-IFRS Accounting Standards and other financial measures" section of this press release. (4) For the three and nine-month periods ended May 31, 2025, acquisition, integration, restructuring and other costs were mainly related to additional restructuring costs incurred in connection with certain cost optimization initiatives undertaken, and costs associated with the configuration and customization related to cloud computing and other arrangements. In addition, for the nine-month period ended May 31, 2025, acquisition, integration, restructuring and other costs were partly offset by a $13.8 million non-cash gain recognized during the first quarter of fiscal 2025 in connection with a sale and leaseback transaction of a building in Ontario. For the three and nine-month periods ended May 31, 2024, acquisition, integration, restructuring and other costs were mostly related to restructuring costs recognized during the third quarter of fiscal 2024 in connection with the strategic transformation announced in May 2024. (5) Excludes the impact of non-cash impairment charges, acquisition, integration, restructuring and other costs, and gains/losses on debt modification and/or extinguishment, all net of tax and non-controlling interest. (6) Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance. (7) Per multiple and subordinate voting share. As at May 31, 2025 August 31, 2024 (In thousands of Canadian dollars) $ $ Financial condition Cash and cash equivalents 245,708 77,746 Total assets 9,966,623 9,773,739 Long-term debt Current 340,440 370,108 Non-current 4,596,247 4,594,057 Net indebtedness (1) 4,740,446 4,957,594 Equity attributable to owners of the Corporation 853,785 810,437 (1) Net indebtedness is a capital management measure. For more information on this financial measure, please consult the "Non-IFRS Accounting Standards and other financial measures" section of the Corporation's MD&A for the three and nine-month periods ended May 31, 2025, available on SEDAR+ at Forward-looking statements Certain statements contained in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to Cogeco Inc.'s ("Cogeco" or the "Corporation") future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee"; "ensure" or other similar expressions concerning matters that are not historical facts. Particularly, statements relating to the Corporation's financial guidelines, future operating results and economic performance, objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, purchase price allocation, tax rates, weighted average cost of capital, performance and business prospects and opportunities, which Cogeco believes are reasonable as of the current date. Refer in particular to the "Corporate objectives and strategy" and "Fiscal 2025 financial guidelines" sections of the Corporation's fiscal 2024 annual Management's Discussion and Analysis ("MD&A"), and the "Fiscal 2025 revised financial guidelines" section of the fiscal 2025 third-quarter MD&A for a discussion of certain key economic, market and operational assumptions we have made in preparing forward-looking statements. While management considers these assumptions to be reasonable based on information currently available to the Corporation, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Cogeco currently expects. These factors include risks such as general market conditions, competitive risks (including changing competitive and technology ecosystems and disruptive competitive strategies adopted by our competitors), business risks, regulatory risks, tax risks, technology risks (including cybersecurity), financial risks (including variations in currency and interest rates), economic conditions (including inflation pressuring revenue, trade tariffs, reduced consumer spending and increasing costs), talent management risks (including the highly competitive market for a limited pool of digitally skilled employees), human-caused and natural threats to the Corporation's network (including increased frequency of extreme weather events with the potential to disrupt operations), infrastructure and systems, sustainability and sustainability reporting risks, ethical behavior risks, ownership risks, litigation risks and public health and safety, many of which are beyond the Corporation's control. Moreover, the Corporation's radio operations are significantly exposed to advertising budgets from the retail industry, which can fluctuate due to increased competition and changing economic conditions. For more exhaustive information on these risks and uncertainties, the reader should refer to the "Uncertainties and main risk factors" section of the Corporation's fiscal 2024 annual MD&A and of the fiscal 2025 third-quarter MD&A. These factors are not intended to represent a complete list of the factors that could affect Cogeco and future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information contained in this press release and the forward-looking statements contained in this press release represent Cogeco's expectations as of the date of this press release (or as of the date they are otherwise stated to be made) and are subject to change after such date. While management may elect to do so, the Corporation is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except as required by law. All amounts are stated in Canadian dollars unless otherwise indicated. This press release should be read in conjunction with the Corporation's MD&A for the three and nine-month periods ended May 31, 2025, the Corporation's condensed interim consolidated financial statements and the notes thereto for the same periods prepared in accordance with IFRS ® Accounting Standards as issued by the International Accounting Standards Board ("IFRS Accounting Standards") and the Corporation's fiscal 2024 Annual Report. Non-IFRS Accounting Standards and other financial measures This press release includes references to non-IFRS Accounting Standards and other financial measures used by Cogeco. These financial measures are reviewed in assessing the performance of Cogeco and used in the decision-making process with regard to its business units. Reconciliations between non-IFRS Accounting Standards and other financial measures to the most directly comparable IFRS Accounting Standards measures are provided below. Certain additional disclosures for non-IFRS Accounting Standards and other financial measures used in this press release have been incorporated by reference and can be found in the "Non-IFRS Accounting Standards and other financial measures" section of the Corporation's MD&A for the three and nine-month periods ended May 31, 2025, available on SEDAR+ at The following non-IFRS Accounting Standards measures are used as a component of Cogeco's non-IFRS Accounting Standards ratios. Financial measures presented on a constant currency basis for the three and nine-month periods ended May 31, 2025 are translated at the average foreign exchange rate of the comparable periods of the prior year, which were 1.3628 USD /CDN and 1.3578 USD /CDN, respectively. Constant currency basis and foreign exchange impact reconciliation Consolidated (1) During the fourth quarter of fiscal 2024, the Corporation updated its free cash flow calculation to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Comparative figures were restated to conform to the current presentation. (1) During the fourth quarter of fiscal 2024, the Corporation updated its free cash flow calculation to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Comparative figures were restated to conform to the current presentation. American telecommunications segment Adjusted profit attributable to owners of the Corporation Three months ended May 31 Nine months ended May 31 2025 2024 2025 2024 (In thousands of Canadian dollars) $ $ $ $ Profit for the period attributable to owners of the Corporation 20,504 18,960 68,485 77,498 Acquisition, integration, restructuring and other costs 8,996 46,634 7,992 51,121 Impairment of property, plant and equipment 2,565 — 2,565 — Loss on debt extinguishment (1) — — — 16,880 Tax impact for the above items (2,751) (12,337) (4,575) (17,978) Non-controlling interest impact for the above items (6,168) (24,155) (3,771) (34,035) Adjusted profit attributable to owners of the Corporation 23,146 29,102 70,696 93,486 (1) Included within financial expense. Free cash flow and free cash flow, excluding network expansion projects reconciliations Three months ended May 31 Nine months ended May 31 2025 2024 (1) 2025 2024 (1) (In thousands of Canadian dollars) $ $ $ $ Cash flows from operating activities 401,375 335,126 860,110 858,427 Changes in other non-cash operating activities (98,149) (73,787) 6,550 (14,195) Income taxes paid (received) (13,139) 3,502 9,782 (1,234) Current income taxes (11,551) (3,390) (35,882) (20,313) Interest paid 72,122 65,253 200,276 201,133 Financial expense (78,138) (67,109) (211,027) (222,211) Loss on debt extinguishment (2) — — — 16,880 Amortization of deferred transaction costs and discounts on long-term debt (2) 2,674 2,329 6,503 7,079 Net capital expenditures (3) (125,752) (169,754) (435,527) (488,177) Proceeds from sale and leaseback and other disposals of property, plant and equipment (1) 2,188 888 22,741 2,787 Repayment of lease liabilities (4,095) (2,894) (10,735) (7,466) Free cash flow (1) 147,535 90,164 412,791 332,710 Net capital expenditures in connection with network expansion projects 13,285 24,433 50,657 80,483 Free cash flow, excluding network expansion projects (1) 160,820 114,597 463,448 413,193 (1) During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Comparative figures were restated to conform to the current presentation. (2) Included within financial expense. Adjusted EBITDA reconciliation Three months ended May 31 Nine months ended May 31 2025 2024 2025 2024 (In thousands of Canadian dollars) $ $ $ $ Profit for the period 73,962 75,285 258,968 267,944 Income taxes 20,600 11,172 70,271 47,546 Financial expense 78,138 67,109 211,027 222,211 Impairment of property, plant and equipment 2,565 — 2,565 — Depreciation and amortization 183,567 169,586 544,994 494,779 Acquisition, integration, restructuring and other costs 8,996 46,634 7,992 51,121 Adjusted EBITDA 367,828 369,786 1,095,817 1,083,601 Net capital expenditures and free cash flow, excluding network expansion projects reconciliations Net capital expenditures Free cash flow (1) During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Comparative figures were restated to conform to the current presentation. (1) During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment, which includes proceeds from sale and leaseback transactions. Comparative figures were restated to conform to the current presentation. Additional information Additional information relating to the Corporation is available on SEDAR+ at and on the Corporation's website at About Cogeco Inc. Cogeco Inc. is a North American leader in the telecommunications and media sectors. Through Cogeco Communications Inc., we provide world-class Internet, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States . We also offer wireless services in most of our U.S. operating territory. Through Cogeco Media, we operate 21 radio stations in Canada , primarily in the province of Québec, as well as a news agency. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future. Both Cogeco Inc.'s and Cogeco Communications Inc.'s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CGO and CCA). For information: Investors Troy Crandall Head, Investor Relations Cogeco Inc. Tel.: 514 764-4600 Media Claudja Joseph Director, Communications Cogeco Inc. Tel.: 514 764-4600
CTV News
40 minutes ago
- CTV News
Timmins police expand staff to meet modern policing needs
Northern Ontario Watch Timmins police are hiring a finance associate and other support staff as part of a modernization push. Chief Sydney Lecky says the new roles will reduce officer paperwork and improve efficiency. Lydia Chubak reports.
Globe and Mail
an hour ago
- Globe and Mail
Copper Standard Announces Voting Results from Annual General and Special Meeting
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2025) - Copper Standard Resources Inc. (CSE: CSR) (" CSR" or the " Company") announces the voting results of its Annual General and Special Meeting (the " Meeting") of Shareholders held on July 15, 2025. CSR shareholders voted in favour of all resolutions presented at the Meeting, including the election of the Company's five director nominees. Detailed results of the vote for directors are shown below: The directors will serve on the Board of Directors of the Company until the Company's next Annual General Meeting of shareholders. Shareholders also voted in favour of the following: (i) the ratification and appointment of Dale Matheson Carr-Hilton Labonte LLP as the auditor of the Company; (ii) the adoption of the proposed new stock option plan; (iii) the adoption of the restricted share rights plan; and (iv) the shareholders voted in favour of ratifying all previous acts by directors and officers since the last Annual General Meeting of the Company held on June 22, 2023. Each of the resolutions approved at the meeting were described in detail in the Company's Management Information Circular dated June 9, 2025, available on SEDAR+ ( and the Company's website ( Following the Meeting, the Board of Directors reaffirmed Matt Fargey as Chief Executive Officer, Christian Uria as Chief Financial Officer, and Craig Rollins as Corporate Secretary. About Copper Standard Copper Standard is engaged in the acquisition, exploration, discovery, and development of mineral interests focusing on copper and gold projects. Copper Standard owns a 100% interest in the El Ferrol Property and has an option to acquire the two adjacent properties which make up the Colpayoc Copper-Gold Project. The Company also owns a 100% interest in the Pacaska, Capricho, and Paco Orco projects located in Peru. Copper Standard continues to evaluate opportunities in the mineral sector on an ongoing basis. For further information, please contact: Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
