MEXICO CITY, Feb. 6 /CNW/ - Invecture Group, S.A. de C.V. ("Invecture")
announced today that it is raising its formal take-over bid for the common
shares of Frontera Copper Corporation ("Frontera") (TSX: FCC.TO) to C$0.75
from C$0.59 and that it has extended the time that Frontera shareholders may
tender to the Invecture bid to 4:30 PM Pacific time February 16, 2009.
Accordingly, Invecture will be today filing at www.SEDAR.com a notice of
variation to Frontera shareholders and promptly mail the notice to Frontera
shareholders. The increased Invecture bid represents a 15.4% premium over
Southern Copper Corporation's intended bid of C$0.65. Invecture continues to
own 19.9% of Frontera and has binding lock-ups with holders of another 27.1%
for an aggregate of 47% of Frontera shares which are currently committed to
Invecture's increased bid. Funds to complete the bid are on account with
Invecture's Canadian financial advisor.
Invecture CEO John Detmold commented, "With a closing possible in as
little as 10 days and a tendering requirement which is significantly less than
the 2/3 required by Southern Copper, the Invecture bid is clearly superior and
we expect that it should receive the support of Frontera shareholders."
"M. John Detmold"
M. John Detmold, Chief Executive Officer
Invecture Group, S.A de C.V.
No regulatory authority has reviewed this announcement. This press
release is not an offer to purchase any securities.
For further information:
For further information: Palmas No. 735-402, CP 11010 Mexico D.F.,
Telephone: + 52-55-5520-6003