On August 7, 2024, Marimaca Copper Corp. completed a $68 million equity investment by Assore International Holdings. The strategic investment consists of the acquisition of 9,417,210 common shares of Marimaca by Assore from an affiliate of Tembo Capital Mining GP Limited, Ndovu Capital XIV B.V., at a price of $4.50 per common share for gross proceeds to Tembo Capital of approximately $42.3 million pursuant to a share purchase agreement and the issuance of 5,725,000 units of Marimaca to Assore by way of a non-brokered private placement for gross proceeds of approximately $25.7 million.
In addition, Marimaca has announced a private placement of 1,000,000 units at a price of $4.50 per common share for gross proceeds of $4.5 million.
Proceeds from the private placements will be used to advance the development of the company’s flagship Marimaca Copper Project located in the Antofagasta region, Chile and for exploration work programs at key targets within the company’s regional land package.
Cassels acted for Marimaca.