VANCOUVER, British Columbia, March 23, 2022 (GLOBE NEWSWIRE) -- In connection with the completion of the previously announced merger of Capstone Mining Corp. (“Old Capstone”) with Mantos Copper (Bermuda) Limited, which was subsequently renamed Capstone Copper Corp. (“Capstone Copper”), Hadrian Capital Partners Inc. (“Hadrian”) announced that it has filed an early warning report reflecting its ownership interest Capstone Copper pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”).
On November 30, 2021, Old Capstone entered into an arrangement agreement (the “Arrangement Agreement”) with Mantos Copper (Bermuda) Limited (“Mantos”) pursuant to which Old Capstone and Mantos agreed to combine under a plan of arrangement under the Business Corporations Act (British Columbia) (the “Transaction”), which Transaction completed on March 23, 2022. As noted above, upon completion of the Transaction, Mantos was renamed Capstone Copper Corp.
Pursuant to the Transaction, holders of common shares of Old Capstone (“Old Capstone Shares”), including Hadrian, received one newly issued Capstone Copper Share per Old Capstone Share and the existing Mantos shareholders continued to hold Capstone Copper Shares. According to Capstone Copper’s news release dated March 23, 2022, upon completion of the Transaction, former Old Capstone and Mantos shareholders now collectively own 60.2% and 39.8% of Capstone Copper, respectively. In connection with the Transaction, Hadrian entered into a voting support agreement with Mantos dated November 30, 2021 pursuant to which Hadrian, among other things, agreed to vote (or cause to be voted) all of the Old Capstone Shares owned or controlled by Hadrian in favour of the Transaction.
Following completion of the Transaction, Hadrian now owns 100,712,661 Capstone Copper Shares, representing approximately 14.64% of Capstone Copper’s issued and outstanding common shares as of the date of this news release and no longer holds any Old Capstone Shares. Prior to the Transaction, Hadrian did not own any Capstone Copper Shares.
Capstone Copper’s head office is located at 2100 – 510 West Georgia Street, Vancouver, British Columbia V6B 0M3.
Hadrian is a private company. The principal business of Hadrian is making investments, which include investments in securities.
For further information or for a copy of the early warning report, please contact:
Sam Parrotta, Chief Financial Officer
Hadrian Capital Partners Inc.
#200 – 1010 Seymour Street
Vancouver, British Columbia
V6B 3M6
Telephone: (604) 602-7711
Fax: (604) 688-7907
