Marimaca Copper Corp. (“Coro” or the “Company”) (TSX Symbol: COP) wishes to advise that it became aware today that its largest shareholder, Benton Capital Corp. (“Benton”, symbol: BTC), announced that it has entered into new business sector via a binding letter of intent (“LOI”) with Folium Life Science Inc. and in addition, intends to transfer its shares in Marimaca Copperto its shareholders via a return of capital. At the date of this announcement, Benton holds ~38% of the Company’s common shares on a fully diluted basis and 34.3% on an undiluted basis.
Marimaca Copperwould like to express its appreciation for the support provided by Benton over the past 5 years, and wishes it well in its new endeavour. We look forward to welcoming our new shareholders as they can now participate directly in the development and growth of our Chilean focussed mining company.
For further information regarding the proposed Benton transaction, interested parties should review the press release issued by Benton, which is available on SEDAR at www.sedar.com . Marimaca Copperhas not approved the contents of the Benton press release and takes no responsibility for its contents.
CORO MINING CORP.
President and CEO
About Marimaca Copper Corp.:
The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production. Coro’s properties include the Berta, El Desesperado, and Payen copper properties located in Chile and the advanced San Jorge copper-gold project, in Argentina.
For further information please visit the Company’s website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or email@example.com
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to future transactions involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company’s documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.