Business
Independent Proxy Firms Recommend Capstone Shareholders Vote FOR The Arrangement Involving the Acquisition of Far West Mining and Formation of Strategic Partnership with Korea Resources Corporation
Jun. 2, 2011 (Canada NewsWire Group) -- VANCOUVER, June 2, 2011 /CNW/ - Capstone Mining Corp....
About this update from Capstone Copper Corp.
[{"type":"text","content":"\n\n\n Jun. 2, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, June 2, 2011 /CNW/ - Capstone Mining Corp. ("Capstone") (TSX:\n CS) is pleased to announce that ISS Canada, Canada's leading\n independent proxy firm and an affiliate of Institutional Shareholder\n Services Inc. ("ISS"), and Glass Lewis & Co., a leading U.S.\n independent proxy firm, have both recommended that Capstone\n shareholders vote FOR the proposed arrangement agreement (the\n "Arrangement Agreement") pursuant to which Capstone will acquire all of\n the issued and outstanding common shares of Far West Mining Ltd. ("Far\n West") (TSX: FWM) and Far West's Santo Domingo Project would be held\n through a newly-formed subsidiary of Capstone, to be owned 70% by\n Capstone and 30% by Korea Resources Corporation ("KORES").\n\n\nCapstone has also agreed to form a long-term strategic partnership with\n KORES for the development of Far West's Santo Domingo Project in Chile.\n Concurrent with the completion of the Arrangement Agreement, KORES\n (through an affiliated company) will (i) acquire a 30% interest in the\n entity that will own the Santo Domingo project for cash consideration\n of up to approximately C$210 million to Capstone, and (ii) subscribe\n for an approximate 11% interest in Capstone, at a price of C$4.35 per\n share, for aggregate cash consideration of approximately C$170-183\n million subject to completion of the Far West t...