Business
Capstone Copper Announces up to $360 Million Investment from Orion for 25% Interest in Santo Domingo
Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS) (ASX:CSC...
About this update from Capstone Copper Corp.
[{"type":"text","content":"Capstone Copper Announces up to $360 Million Investment from Orion for 25% Interest in Santo Domingo\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistcircle { list-style-type: circle }\n.bwlistdecimal { list-style-type: decimal }\n.bwlistdisc { list-style-type: disc }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwrowaltcolor1 { background-color: #d3d3d3 }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth11 { width: 11% }\n.bwwidth23 { width: 23% }\n \n\n\n\n Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS) (ASX:CSC) is pleased to announce that fund entities managed by Orion Resource Partners LP (collectively, “Orion”) have agreed to acquire a 25% ownership interest in the Santo Domingo Project (the “Project” or “Santo Domingo”) and the Sierra Norte Project (“Sierra Norte”) for total cash consideration of up to $360 million (the “Transaction”). All amounts in US$ unless otherwise indicated.\n \n\n The total cash consideration payable by Orion is comprised of $225 million for a 25% ownership interest, payable upon a positive final investment decision (“FID”) on Santo Domingo, $75 million matching contribution payable within six months of FID, and up to $60 million in contingent cash consideration (the “Contingent Consideration”) payable to Capstone upon the achievement of certain value enhancing milestones.\n \n\n Concurrent with the Transaction, Capstone and Orion have entered into an equity subscription agreement (the “Subscription Agreement”), pursuant to which Orion will subscribe for common shares of the Company for cash consideration of $10 million at a price per ...