Business
Capstone Mining and Mantos Copper Combine to Create Capstone Copper, a Premier Copper Producer With Transformational Near-Term Growth
VANCOUVER, British Columbia / Nov 30, 2021 / Business Wire / Capstone Mining Corp. (“Capstone” or the “Company”) (TSX:CS) and Mantos Copper (Bermuda) Limited (“
About this update from Capstone Copper Corp.
[{"type":"text","content":"VANCOUVER, British Columbia / Nov 30, 2021 / Business Wire / Capstone Mining Corp. (“Capstone” or the “Company”) (TSX:CS) and Mantos Copper (Bermuda) Limited (“Mantos”) are pleased to announce that they have entered into a definitive agreement (the “Agreement”) to combine pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) (the “Transaction”). Upon completion of the Transaction, Mantos will be renamed Capstone Copper Corp. (“Capstone Copper”), and will remain headquartered in Vancouver, B.C. Capstone Copper will apply to the Toronto Stock Exchange to list the Capstone Copper shares on the Toronto Stock Exchange. Pursuant to the Agreement, each Capstone shareholder will receive 1 newly issued Capstone Copper share per Capstone share (the “Exchange Ratio”) and the existing Mantos shareholders will continue to hold Capstone Copper shares. Upon completion of the Transaction, former Capstone and Mantos shareholders will collectively own 60.75% and 39.25% of Capstone Copper, respectively, on a fully-diluted share basis. Following completion of the Transaction: John MacKenzie, Executive Chairman and Founder of Mantos, will become the Chief Executive Officer of Capstone Copper Darren Pylot, President & CEO and Director of Capstone, will become Executive Chair of Capstone Copper The new board of directors will be composed of seven directors, including the Executive Chair, CEO and Lead Independent Director, George Brack Giancarlo Bruno, CEO of Mantos, will be responsible for the Chilean operations of the combined business Concurrent with the announcement of the Transaction: Cashel Meagher, formerly SVP and COO of Hudbay Minerals Inc., will become President & COO of Capstone, effective January 5, 2022 Brad Mercer, SVP and COO of Capstone, will transition to a newly created role as SVP, Strategic Projects, effective January 5, 2022 The Transaction will establish Capstone Copper as a premier copper producer with a diversified portfolio of high-quality, long-life operating assets focused in the Americas with an extensive pipeline of near-term organic growth opportunities. Darren Pylot stated, “This transaction is in-line with our strategic vision of growing a multi-asset and sustainable copper business in the Americas. The combination of these two companies provides transformational near-term growt...