Posted in | News | Copper | Mining Business

Capstone Mining and Mantos Copper Complete Combination to Create Capstone Copper

Capstone Mining Corp. (“Old Capstone”) today announced the successful completion of the previously announced transaction combining Old Capstone and Mantos Copper (Bermuda) Limited (“Mantos”), (the “Transaction”) following the receipt of all regulatory approvals and the satisfaction of all closing conditions. Concurrent with the closing of the Transaction, Mantos has been renamed Capstone Copper Corp. (“Capstone Copper”), is headquartered in Vancouver, B.C. and represents an Americas-focused premier copper producer with transformational and peer-leading production growth.

Pursuant to a plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia), 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% 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% of the outstanding common shares.

The common shares of Capstone Copper are listed on the Toronto Stock Exchange under the ticker symbol “CS”. The listing of Capstone Copper substitutes the prior listing of Old Capstone. Old Capstone will apply to cease being a reporting issuer.

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.

As previously announced, the combined company will be led by Darren Pylot, as Executive Chair of the Board and John MacKenzie, as Chief Executive Officer.

“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. Mr. MacKenzie added, “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.”

Full details of the Arrangement and certain other matters are set out in the management information circular dated January 27th, 2022 posted on Old Capstone’s SEDAR profile and has been posted to Capstone Copper’s website.

Source: https://capstonecopper.com/home/default.aspx

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Capstone Mining Corp.. (2022, March 24). Capstone Mining and Mantos Copper Complete Combination to Create Capstone Copper. AZoMining. Retrieved on July 02, 2022 from https://www.azomining.com/News.aspx?newsID=16897.

  • MLA

    Capstone Mining Corp.. "Capstone Mining and Mantos Copper Complete Combination to Create Capstone Copper". AZoMining. 02 July 2022. <https://www.azomining.com/News.aspx?newsID=16897>.

  • Chicago

    Capstone Mining Corp.. "Capstone Mining and Mantos Copper Complete Combination to Create Capstone Copper". AZoMining. https://www.azomining.com/News.aspx?newsID=16897. (accessed July 02, 2022).

  • Harvard

    Capstone Mining Corp.. 2022. Capstone Mining and Mantos Copper Complete Combination to Create Capstone Copper. AZoMining, viewed 02 July 2022, https://www.azomining.com/News.aspx?newsID=16897.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit