Capstone Copper and Orion close C$328 million secondary bought deal offering of common shares

On March 31, 2023, Capstone Copper Corp. (“Capstone”) and Orion Fund JV Limited, Orion Mine Finance Fund II LP and Orion Mine Finance (Master) Fund I-A LP (collectively, the “Selling Shareholders”) jointly announced the closing of the previously announced secondary bought deal offering of common shares of Captone.

Pursuant to an underwriting agreement, dated March 24, 2023, among Capstone, the Selling Shareholders and a syndicate of underwriters co-led by National Bank Financial and Scotiabank, the Selling Shareholders sold an aggregate of 57,500,000 common shares of Capstone—including 7,500,000 common shares sold pursuant to the exercise in full of the over-allotment option granted to the underwriters by the Selling Shareholders—at a price of C$5.70 per common share, for aggregate gross proceeds to the Selling Shareholders of C$327,750,000.

Net proceeds from the offering were paid directly to the Selling Shareholders. Capstone did not receive any of the proceeds.

Further information can be found on Globe Newswire’s website.

Capstone is an Americas-focused copper mining company headquartered in Vancouver, Canada. It owns and operates the Pinto Valley copper mine located in Arizona, USA, the Cozamin copper-silver mine located in Zacatecas, Mexico, the Mantos Blancos copper-silver mine located in the Antofagasta region, Chile, and 70% of the Mantoverde copper-gold mine, located in the Atacama region, Chile. In addition, it also owns the fully permitted Santo Domingo copper-gold project also in the Atacama region, as well as a portfolio of exploration properties in the Americas.