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Atico Mining Corporation Completes Acquisition of Toachi Mining Inc. Creating a Leading Latin American Copper-Gold Operator, Developer and Explorer
VANCOUVER, British Columbia, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Atico Mining Corporation (TSX.V:ATY, OTC:ATCMF) (“Atico” or the “Company”) and Toachi Mining Inc
About this update from Atico Mining Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Atico Mining Corporation (TSX.V:ATY, OTC:ATCMF) (“Atico” or the “Company”) and Toachi Mining Inc. (TSX-V:TIM, OTC:TIMGF) (“Toachi”) are pleased to announce that Atico has completed the previously announced acquisition of all of the issued and outstanding shares of Toachi by way of a plan of arrangement (the “Arrangement”). The Arrangement was approved by the Ontario Superior Court of Justice in its final order dated September 9, 2019. The Arrangement was completed pursuant to the Canada Business Corporations Act. Pursuant to the terms of the Arrangement, Toachi shareholders received 0.24897 of an Atico share for each Toachi share held. In connection with the closing of the Arrangement, Atico increased the size of its board of directors to seven, with former Toachi director Jonathon Goodman being appointed to the Atico board of directors. Atico also appointed Alain Bureau, the former President and Chief Executive Officer of Toachi, as the President of Atico. It is expected that the Toachi shares will be de-listed from the TSX-V Exchange and the OTCQB on September 12, 2019 and that Toachi will cease to be a reporting issuer shortly thereafter. Advisors and Counsel Blake, Cassels & Graydon LLP acted as Atico’s legal advisor. Laurentian Bank Securities acted as financial advisor to Atico. Séguin Racine, Attorneys Ltd. acted as Toachi’s legal advisor. Maxit Capital LP acted as financial advisor to Toachi. About Atico Mining Corporation Atico Mining is a Canadian-based Company focused on developing and operating copper-gold projects in Latin America. Drawing on the extensive operational experience of management and directors in Latin America, the Company's strategy is to build a mid-tier copper-gold producer by acquiring advanced-stage projects with potential for high-margin operations and sustainable organic growth. About Toachi Mining Inc. Toachi brings a disciplined and veteran team of project managers together with one of the industry’s highest grade polymetallic projects at the La Mina VMS deposit in Ecuador. Toachi is focused on and committed to the development of advanced stage mineral projects throughout the Americas using industry best practices combined with a strong social license from local communities. For further information please visit the Atico and T...