MEXICO CITY, Jan. 27 /CNW/ - John Detmold, CEO of Invecture Group, SA de
CV, the largest shareholder of Frontera Copper Corp. (TSX:FCC), announced that
Frontera's next largest shareholder has signed a permitted lock-up agreement
with Invecture to tender 9,887,500 Frontera shares into Invecture's $0.59 per
share take-over bid which expires February 6, 2009. Invecture currently owns
19.9% of Frontera and has now secured permitted lock-ups from the next two
largest shareholders which together own 27.1% of Frontera bringing the total
Frontera shares which Invecture holds or which have been committed to the bid
to 47%. A permitted lock-up is one which is permitted by the terms of
Frontera's 2006 shareholders rights plan. The latest lock-up will be filed at
Mr. Detmold commented "Invecture believes that this lock-up represents an
important endorsement of our bid given the size of the share holding involved.
With our bid continuing to have an 18% premium over Frontera's prevailing
market price, we feel that it fully and fairly values Frontera and we look
forward to its successful completion next week."
"M. John Detmold"
M. John Detmold, Chief Executive Officer
Invecture Group, S.A de C.V.
No regulatory authority has passed upon the information contained herein.
For further information:
For further information: Palmas No. 735-402, CP 11010 Mexico D.F.,
Telephone: + 52-55-5520-6003