All amounts in US$ unless otherwise
indicated
Capstone Copper Corp. (“Capstone” or the “Company”)
(TSX:CS) (ASX:CSC) announces that it has successfully completed the
pricing of its offering (the “Offering”) of $600 million aggregate
principal amount of 6.750% senior notes due 2033 (the “Notes”). The
offering was upsized from the previously announced $500 million in
aggregate principal amount. The issue price of the Notes is
100.000%.
Interest on the Notes will accrue from the issue date at a rate
of 6.750% per annum and will be payable semi-annually. Settlement
is expected to take place on or about March 25, 2025, subject to
customary conditions precedent. The Notes will be senior unsecured
obligations of the Company and will be guaranteed by each of the
Company’s subsidiaries that guarantees its senior secured revolving
credit facility.
The Company intends to apply the gross proceeds from the sale of
the Notes to repay project financing debt at its Mantoverde S.A.
subsidiary, to pay down debt on the Company’s senior secured
revolving credit facility, and for general corporate purposes.
The Notes are being offered and sold in the United States only
to persons reasonably believed to be qualified institutional buyers
in accordance with Rule 144A under the United States Securities Act
of 1933, as amended (the “Securities Act”), and to non-U.S. persons
outside the United States in compliance with Regulation S under the
Securities Act. The Notes are being offered and sold in Canada on a
private placement basis pursuant to certain prospectus
exemptions.
The offer and sale of the Notes have not been, and will not be,
registered under the Securities Act and the Notes may not be
offered or sold in the United States or to U.S. persons absent
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities
laws. This news release shall not constitute an offer to sell the
Notes, nor shall there be any offer or sale of the Notes in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
ABOUT CAPSTONE COPPER CORP.
Capstone Copper Corp. is an Americas-focused copper mining
company headquartered in Vancouver, Canada. We own and operate 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, we own the fully permitted Santo
Domingo copper-iron-gold project, located approximately 30
kilometres northeast of Mantoverde in the Atacama region, Chile, as
well as a portfolio of exploration properties in the Americas.
Capstone Copper’s strategy is to unlock transformational copper
production growth while executing on cost and operational
improvements through innovation, optimization and safe and
responsible production throughout our portfolio of assets. We focus
on profitability and disciplined capital allocation to surface
stakeholder value. We are committed to creating a positive impact
in the lives of our people and local communities, while delivering
compelling returns to investors by responsibly producing copper to
meet the world’s growing needs.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking information”
within the meaning of Canadian securities legislation and
“forward-looking statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995
(collectively, “forward-looking statements”).
In certain cases, forward-looking statements can be identified
by the use of words such as “anticipates”, “approximately”,
“believes”, “budget”, “estimates”, “expects”, “forecasts”,
“guidance”, “intends”, “plans”, “scheduled”, “target”, or
variations of such words and phrases, or statements that certain
actions, events or results “be achieved”, “could”, “may”, “might”,
“occur”, “should”, “will be taken” or “would” or the negative of
these terms or comparable terminology. Forward-looking statements
include, but are not limited to, statements with respect to the
Company's intention to offer the Notes, subject to market and other
conditions, the intended use of proceeds from the offering and the
Company’s business strategy. These forward-looking statements and
information reflect the Company's current views with respect to
future events and are necessarily based upon a number of
assumptions that, while considered reasonable, are inherently
subject to significant operational, business, economic, market and
regulatory uncertainties and contingencies. These assumptions
include the timing and success of the Notes offering. Furthermore,
such forward-looking statements involve a variety of known and
unknown risks, uncertainties and other factors which may cause the
actual plans, intentions, activities, results, performance or
achievements of the Company to be materially different from any
future plans, intentions, activities, results, performance or
achievements expressed or implied by such forward-looking
statements. Such risks include, without limitation, the risks
included in our continuous disclosure filings on SEDAR+ at
www.sedarplus.ca. These forward-looking statements are made as of
the date of this press release and the Company does not intend, and
does not assume any obligation, to update these forward-looking
statements, except as required under applicable securities
legislation. Although the Company has attempted to identify
important factors that could cause actual actions, events,
conditions, results, performance or achievements to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events, conditions,
results, performance or achievements to differ from those
anticipated, estimated or intended. The Company cautions that the
foregoing lists of important assumptions and factors are not
exhaustive. Other events or circumstances could cause actual
results to differ materially from those estimated or projected and
expressed in, or implied by, the forward-looking statements
contained herein. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250320955190/en/
Daniel Sampieri, Vice President, Investor Relations 437-788-1767
dsampieri@capstonecopper.com
Michael Slifirski, Director, Investor Relations, APAC Region
61-412-251-818 mslifirski@capstonecopper.com
Claire Stirling, Manager, Investor Relations 416-831-8908
cstirling@capstonecopper.com
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