Telferscot Resources Announces Closing of Financing

TORONTO, Ontario, October 6, 2015 – Telferscot Resources Inc. (CSE:TFS) (“Telferscot” or the “Company”) is pleased to announce that it has closed the second and final tranche of the financing previously announced on May 13, 2015. The Company issued $250,000 in convertible notes (the “Notes”) for total proceeds of $250,000.

The Notes are interest free and will be automatically converted into that number common shares (each a “Common Share”) on the basis of one (1) Common Share for each $0.005 in principal amount converted. Such conversion will occur on the closing of a transaction (the “Transaction”) by the Corporation which results in the distribution of the Corporation’s interest in Kolwezi Copper Corp. (“KCC”) to the holders of the Common Shares of the Corporation at a record date to be determined prior to the conversion of the Note. The Notes may not be converted prior to the record date. If the Notes are not converted by March 31, 2016, they shall become due and payable.

With the closing of this second and final tranche, Telferscot has raised a total of $400,000.

On May 13, 2015 the Company announced that it had entered into a letter of intent with Resideo Properties Inc. (“Resideo”) to acquire the business of Resideo following the completion of due diligence and a formal purchase agreement (the “Acquisition”). Resideo is a privately held Canadian company in the process of acquiring a portfolio of single-family and multi-tenant residential properties in the Detroit, Michigan area.

Following the execution of a definitive agreement, a complete description of the Acquisition; its impact on shareholders; and, the necessary approvals will be provided to the market.