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Copper Standard Resources has completed its acquisition of Pucara Gold through a court-approved arrangement. Under the deal terms, former Pucara shareholders received 0.10 Copper Standard common shares for each Pucara share held, resulting in Copper Standard issuing 7,659,195 new shares. The new shares will be listed on the Canadian Securities Exchange. Existing Pucara options and warrants were adjusted according to the exchange ratio. Pucara shares will be delisted from TSX Venture Exchange, and the company will seek to cease being a reporting issuer.
Copper Standard Resources Inc. and Pucara Gold have announced a business combination to create an Americas-focused copper-gold exploration company. The transaction will consolidate a prospective copper exploration portfolio totaling over 17,000 hectares in Peru. Key highlights include:
1. Increased scale and diversification with three Peruvian copper exploration assets.
2. Synergy and cost savings with Copper Standard's experienced management team.
3. Pucara shareholders will receive 0.1 Copper Standard shares for each Pucara share, representing a 67% premium.
4. Upon completion, existing Copper Standard and Pucara shareholders would own approximately 85% and 15% of the combined company, respectively.
The transaction is expected to close by the end of 2024, subject to shareholder and regulatory approvals.
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