Vancouver, BC, November 18, 2019, Eastfield Resources Ltd. (“Eastfield” or the “Company”) (TSX-V: ETF) announces that on November 15, 2019 it acquired 9,272,560 common shares of Consolidated Woodjam Copper Corp. (“Consolidated Woodjam”), a TSX-V listed company. These shares were acquired pursuant to a debt settlement agreement by which $463,628 of indebtedness was settled by the issuance of these shares at a deemed price of $0.05 per share.
Immediately prior to this acquisition, Eastfield owned 3,229,245 shares of Consolidated Woodjam, representing approximately 3.98% of Consolidated Woodjam’s then-issued and outstanding common shares. The acquisition pursuant to the debt settlement agreement increased Eastfield’s position in the issued and outstanding shares of Consolidated Woodjam to 12,501,805 shares, representing approximately 13.85% of Consolidated Woodjam’s currently issued and outstanding common shares. Eastfield acquired the shares of Consolidated Woodjam for investment purposes, and may acquire further shares, or dispose of its shares of Consolidated Woodjam, as investment conditions warrant.
About Eastfield Resources:
Eastfield Resources is a well-funded Canadian mineral exploration company focused on the discovery of large precious metal and copper deposits. Eastfield owns a 100% interest in five mineral projects in British Columbia. Eastfield trades on the TSX Venture Exchange under the symbol "ETF". For more information, please visit Eastfield’s website at www.eastfieldresources.com.
J.W. Morton, P. Geo.
President and CEO
Eastfield Resources Ltd.
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 news release.