Heatherdale Resources Announces Name Change to Blackwolf Copper and Gold Ltd, Stock Symbol Change and Grants Stock Options

Rhea-AI Summary

Heatherdale Resources Ltd. has officially changed its name to Blackwolf Copper and Gold Ltd., with the new trading symbol (TSX.V:BWCG) effective April 22, 2021. The symbol for U.S. trading remains (OTC PINK:HTRRF). This change reflects the company's commitment to transparency and collaboration with Indigenous communities. Shareholders do not need to exchange their existing shares. Additionally, Blackwolf has granted stock options for up to 280,000 common shares at $1.00 per share, with a vesting schedule over several years.

Positive

• Name change to Blackwolf Copper and Gold aligns with company vision and inclusion efforts.
• Stock options granted for up to 280,000 shares incentivize employees and enhance company morale.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 20, 2021 / Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSX.V:HTR) today announces that it has completed the name change to "Blackwolf Copper and Gold Ltd" with trading under the new name on the TSX Venture Exchange will commence at the opening of trading on April 22, 2021 under the new symbol (TSX.V:BWCG) Trading in the United States will continue under (OTC PINK:HTRRF).

"Our name change to Blackwolf Copper and Gold better reflects the Company's Spirit and Vision, particularly with consultation and inclusion with Indigenous People," said Rob McLeod, President & CEO of Blackwolf Copper and Gold. "Growing up in the Pacific Northwest on the border of Alaska and British Columbia, I was fascinated with the distinct wolf packs that were either traditional grey, or with dominantly black fur. We see Blackwolf as a symbol for the strength, inclusion and loyalty within our own pack of mining professionals and the transboundary nature of our business strategy."

Shareholders are not required to exchange their existing share certificates for new certificates bearing the Company's new name and the name change does not affect the Company's share structure or the rights of the Company's shareholders. No further action is required by existing shareholders.

In addition, the Company announces that it has granted to an officer, employees and consultants of the Company stock options (the "Options") exercisable to acquire up to a total of 280,000 common shares in accordance with the Company's Stock Option Plan. The Options have an exercise price of $1.00, which will vest ¼ in 3 months from the date of grant, ¼ after 12, 24 and 36 months, respectively, from the date of grant and have a 5-year term in accordance with the Stock Option Plan.

About Blackwolf Copper and Gold

Blackwolf Copper and Gold Ltd.'s founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska. For more information on Blackwolf, please visit the Company's website at www.blackwolfcopperandgold.com.

On behalf of the Board of Directors

"Robert McLeod"
Robert McLeod, P.Geo
President, CEO and Director

For more information, contact:

Rob McLeod
604-617-0616 (Mobile)
604-343-2997 (Office)
rm@bwcg.ca

Liam Morrison
604-897-9952 (Mobile)
04-343-2997 (Office)
lm@bwcg.ca

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.

Cautionary Note Regarding Forward-Looking Statements:

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release. Forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; and changes in the Company's business plans. In making the forward looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that the Company will continue with its stated business objectives. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.

The Company's "Mineral Resource Estimate" refers to a November 2011 NI 43-101 Report authored by SRK Consulting Independent of the Company and Deon Van Der Heever, Pr. Sci. Nat., Hunter Dickinson Inc., a Qualified Person who was not independent of the Company. Net Smelter Return (NSR) cutoff uses long-term metal forecasts: gold US$1,150/oz, silver US$20.00/oz, copper US$2.50/lb, and zinc US$1.00/lb; Recoveries (used for all NSR calculations) to Cu concentrate of 95% Cu, 56% Au and 53% Ag with payable metal factors of 96.5% for Cu, 90.7% for Au, and 89.5% for Ag; to Zn concentrate of 93% Zn, 16% Au, and 24% Ag with payable metal factors of 85% for Zn, 80% for Au and 20% for Ag. Detailed engineering studies will determine the best cutoff.

For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

SOURCE: Heatherdale Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/641277/Heatherdale-Resources-Announces-Name-Change-to-Blackwolf-Copper-and-Gold-Ltd-Stock-Symbol-Change-and-Grants-Stock-Options

FAQ

When will the name change to Blackwolf Copper and Gold take effect for HTRRF?

The name change will take effect on April 22, 2021.

What is the new stock symbol for Blackwolf Copper and Gold on the TSX?

The new stock symbol will be BWCG on the TSX Venture Exchange.

Are shareholders required to exchange their shares after the name change?

No, shareholders are not required to exchange their existing share certificates.

How many stock options did Blackwolf Copper and Gold grant?

Blackwolf Copper and Gold granted stock options for up to 280,000 common shares.

What is the exercise price for the stock options granted by Blackwolf?

The exercise price for the stock options is $1.00 per share.