TORONTO, Aug. 4, 2017 /CNW/ - Mantos Copper (Bermuda) Limited ("Mantos Copper") announced that, pursuant to a share purchase agreement among Mantos Copper, Rio Tinto International Holdings Limited ("Rio Tinto Holdings") and Turquoise Hill Resources Ltd. ("Turquoise Hill"), Mantos Copper has agreed to acquire 7,455,058 common shares and 6,209,699 common shares (the "Mason Shares") of Mason Resources Corp. ("Mason") from Rio Tinto Holdings and Turquoise Hill, respectively, at a price of CAD$0.20 per share in cash for an aggregate purchase price of CAD$2,732,952.
Mantos Copper has agreed to acquire an aggregate of 7,455,058 Mason Shares from Rio Tinto Holdings (representing approximately 9.58 per cent of the outstanding Mason Shares) and an aggregate of 6,209,699 Mason Shares from Turquoise Hill (representing approximately 7.98 per cent of the outstanding Mason Shares). The Mason Shares to be acquired by Mantos Copper from Rio Tinto Holdings and Turquoise Hill collectively represent approximately 17.56 per cent of the outstanding Mason Shares. Mantos Copper does not currently own or control any Mason Shares.
The acquisition of the Mason Shares by Mantos Copper is aligned with the long term strategy of the company to invest in attractive copper opportunities in low risk jurisdictions. Depending on market conditions, Mantos Copper's view of Mason's prospects and other factors considered relevant by Mantos Copper, Mantos Copper may acquire additional securities of Mason from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its securities of Mason.
The head office of Mason is located at Suite 1650 – 1066 West Hastings Street, Vancouver, BC, V6E 3X1, Canada.
An early warning report in respect of the above transaction will be filed under the profile of Mason on SEDAR at www.sedar.com and may also be obtained by contacting John Dyer at +56 9 9969 4592.
About Mantos Copper
Mantos Copper is a mining company focussed upon the extraction and sale of copper. The company owns and operates two mines in northern Chile, Mantos Blancos and Mantoverde, which produce approximately 100 thousand tons of copper per year. The Mantos Copper (Bermuda) Limited investors are Audley Mining Advisors Limited, a special purpose vehicle established in Guernsey, and Orion Mine Finance, a mining-focused investment fund based in New York.
Mantos Copper's address is Cannon's Court, 22 Victoria Street, Hamilton, Bermuda HM12. Mantos Copper is an exempted company incorporated under the laws of Bermuda.
Certain statements in the press release are forward-looking statements and are prospective in nature, including statements with respect to Mantos Copper's future intentions regarding the securities of Mason. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Mantos Copper is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE Mantos Copper
For further information: John MacKenzie, Executive Chairman, +44 20 7529 6920, [email protected]