Vancouver, British Columbia--(Newsfile Corp. - November 20, 2024) - Copper Standard Resources Inc. (CSE: CSR) ("Copper Standard") and Pucara Gold Ltd. (TSXV: TORO) ("Pucara") are pleased to announce the successful completion of the previously announced transaction pursuant to which Copper Standard acquired all of the issued and outstanding common shares of Pucara (the "Pucara Shares"), not previously owned by Copper Standard, by way of a court-approved plan of arrangement (the "Arrangement").
Pursuant to the Arrangement, former Pucara shareholders received 0.10 (the "Exchange Ratio") of a Copper Standard common share (each whole share, a "Copper Share") in exchange for each Pucara Share held. Copper Standard issued an aggregate of 7,659,195 Copper Shares to former Pucara shareholders. The Copper Shares issued under the Arrangement are expected to be listed and posted for trading on the Canadian Securities Exchange.
Options to acquire Pucara Shares that were outstanding at the time of completion of the Arrangement were exchanged in accordance with the Exchange Ratio for similar securities to purchase Copper Shares on substantially the same terms and conditions, and outstanding warrants of Pucara have become exercisable, based on the Exchange Ratio, to purchase Copper Shares on substantially the same terms and conditions.
Further details regarding the Arrangement are set out in Pucara's management information circular dated September 27, 2024, which is available on Pucara's SEDAR+ profile at www.sedarplus.ca.
Delisting of the Pucara Shares
It is anticipated that the Pucara Shares will be de-listed from the TSX Venture Exchange as soon as reasonably practicable following closing of the Arrangement, and that Pucara will apply to the Canadian securities regulators for it to cease to be a reporting issuer thereafter.
About Copper Standard
Copper Standard is engaged in the acquisition, exploration, discovery, and development of mineral interests focusing on copper and gold projects. Copper Standard has an option to acquire 100% of the Colpayoc Copper-Gold Property in Peru ("Colpayoc"). Colpayoc has significant, untested potential for supergene and porphyry copper-gold mineralization at depth, beneath drill holes bottoming in oxide gold-copper mineralization. Colpayoc is largely untested with limited drilling and is similar to many of the world class porphyry copper-gold deposits within the prolific Yanacocha District. Recognizing the importance of sustainable practices, Copper Standard remains dedicated to thorough evaluation and responsible development within the mineral sector. Copper Standard continues to evaluate opportunities in the mineral sector on an ongoing basis.
About Pucara
Pucara is a junior exploration company focused on the discovery and advancement of economic precious metals deposits in resource-rich Peru. Pucara has a portfolio approach to project acquisition and owns three precious and base metal projects located in Peru.
For Further Information
Matt Fargey, Chief Executive Officer of Copper Standard604-628-1110
For more information about Copper Standard, please visit our website at www.copperstandard.com or email us at info@copperstandard.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable securities laws relating to, among other things, statements with respect to the delisting of the Pucara Shares and Pucara applying to cease to be a reporting issuer. Forward-looking information may in some cases be identified by words such as "will", "anticipates", "expects", "intends" and similar expressions suggesting future events or future performance.
We caution that all forward-looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. Accordingly, we warn investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding our future results or plans. We cannot guarantee that any forward-looking information will materialize and you are cautioned not to place undue reliance on this forward-looking information. Any forward-looking information contained in this news release represent expectations as of the date of this news release and are subject to change after such date. However, we are under no obligation (and we expressly disclaim any such obligation) to update or alter any statements containing forward-looking information, the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.
A comprehensive discussion of other risks that impact Copper Standard and Pucara can also be found in their public reports and filings which are available under their respective profiles at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230810