Capstone Mining and Mantos Copper Complete Combination to Create Capstone Copper
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Capstone Mining Corp. has successfully completed the previously reported transaction combining Capstone Mining and Mantos Copper following the receipt of all regulatory approvals and the satisfaction of all closing conditions. Mantos has been renamed Capstone Copper Corp., is headquartered in Vancouver, B.C. and represents an Americas-focused premier copper producer with transformational and peer-leading production growth.
“I am incredibly excited by the opportunity to lead Capstone Copper and help deliver on a truly transformational growth story. This company has the makings of becoming a Canadian-based copper champion driven by our long-life assets, our experienced management team, and our strong balance sheet,” said John MacKenzie, CEO.
“Our shared principles in expansion, innovation, optimization and safe copper production will remain central to our strategy and set the stage for a successful integration process,” added MacKenzie.
Pursuant to a plan of arrangement under the Business Corporations Act, each issued and outstanding common share of Old Capstone has been exchanged for one newly issued common share of Capstone Copper, which together represent 60.2 percent of the issued and outstanding common shares of Capstone Copper. As a result of the arrangement, Old Capstone has become a wholly owned subsidiary of Capstone Copper. As at closing, the former shareholders of Mantos will maintain their shareholding in Capstone Copper, representing the remaining 39.8 percent of the outstanding common shares.
Capstone Copper’s newly constituted board of directors consists of George Brack (lead independent director), Darren Pylot (executive chair), John MacKenzie (CEO & director), Alison Baker, Bob Gallagher, Anne Giardini, Peter Meredith, and Istvan Zollei.
The combined company will be led by Darren Pylot, as executive chair of the board and John MacKenzie, as chief executive officer.
About Capstone Copper
Capstone Copper Corp. is an Americas-focused copper mining company headquartered in Vancouver, Canada. The own and operate the Pinto Valley copper mine located in Arizona, USA, the Cozamin copper-silver mine located in Zacatecas, Mexico, the Mantos Blancos copper-silver mine located in the Antofagasta region, Chile, and 70 percent of the Mantoverde copper-gold mine, located in the Atacama region, Chile. In addition, they own the fully permitted Santo Domingo copper-gold project, located approximately 30 kilometres northeast of Mantoverde in the Atacama region, Chile, as well as a portfolio of exploration properties in the Americas. Capstone Copper’s strategy is to unlock transformational copper production growth while executing on cost and operational improvements through innovation, optimization and safe and responsible production throughout our portfolio of assets.
To stop by Capstone Copper’s website, CLICK HERE
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