Toachi Mining Shareholders Approve Plan of Arrangement with Atico Mining
TORONTO--(BUSINESS WIRE)--Toachi Mining Inc. (“Toachi”) (TSX-V:TIM; OTC:TIMGF) announces that its shareholders have approved the acquisition by Atico Mining Corporation (“Atico”) (TSX-V:ATY; OTC:ATCMF) of all of its issued and outstanding shares by way of a plan of arrangement under section 192 of the Canada Business Corporations Act (the “Arrangement”) to create a new Latin American focused copper-gold Company.
At a special meeting of Toachi’s shareholders held yesterday, the Arrangement was approved by 99.998 % of the votes cast by shareholders (99.998 % excluding the votes cast by Shareholders that were required to be excluded pursuant to Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions).
Toachi will seek a final order from the Superior Court of Ontario with respect to the Arrangement on September 9, 2019 and expects that all other conditions to the completion of the Arrangement will be satisfied within five (5) business days of obtaining such court order.
About Atico Mining Corporation
Atico Mining is a Canadian-based Company focused on developing and operating copper-gold projects in Latin America. Drawing on the extensive operational experience of management and directors in Latin America, the Company's strategy is to build a mid-tier copper-gold producer by acquiring advanced-stage projects with potential for high-margin operations and sustainable organic growth.
About Toachi Mining Inc.
Toachi brings a disciplined and veteran team of project managers together with one of the industry’s highest-grade polymetallic projects at the La Mina VMS deposit in Ecuador. Toachi is focused on and committed to the development of advanced stage mineral projects throughout the Americas using industry best practices combined with a strong social license from local communities.
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