Atico Mining Provides Corporate Update
- None.
- The provisional suspension of The Decree poses uncertainty for Atico's La Plata project and other development projects in Ecuador, potentially impacting timelines and regulatory compliance.
VANCOUVER, British Columbia, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) reports that the highest body of constitutional justice provisionally suspends the Executive Decree No 754 (The Decree) issued earlier in the year. Government of Ecuador, through the Ministry of Environment, waters and ecological transition (MAATE), qualified this order as unacceptable and along with the representatives of the Civil Society will present its counter argument within 15 working days to support the constitutionality of The Decree.
On July 31st, the Constitutional Court, admitted the demand of the Confederation of Indigenous Nationalities of Ecuador (Conaie) and provisionally suspended The Decree, that allowed environmental consultations for 155 important development projects to be carried out. This decision not only affects the La Plata project and the extractive industries, but also licensing of tourist activities, treatment plants, waste management centers, electrical projects, among others.
Atico has successfully completed the technical approval of its environmental and social impact assessment ("ESIA") for the La Plata project. The Ministry of Environment, waters and ecological transition (MAATE) had initiated the final step being the socialization of the ESIA results. Until further clarity on the Constitutional Courts ruling, the Process will now be put on pause. This important step is managed and overseen by the Government of Ecuador to ensure full compliance with the standards of The Decree.
The Company will provide further updates as additional information becomes available.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing it’s high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTCQX: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; the world-wide economic and social impact of COVID-19 is managed and the duration and extent of the coronavirus pandemic is minimized or not long-term; disruptions related to the COVID-19 pandemic or other health and safety issues, or the responses of governments, communities, the Company and others to such pandemic or other issues; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com
FAQ
What is the impact of the provisional suspension of Executive Decree No 754 on Atico Mining Corporation?
What steps has Atico Mining Corporation taken for its La Plata project?
Who is working to support the constitutionality of The Decree?
