On March 23, 2022, Capstone Mining Corp. (“Old Capstone”) completed its business combination with Mantos Copper (Bermuda) Limited (“Mantos”). Concurrent with the closing of the transaction, Mantos has been renamed Capstone Copper Corp. (“Capstone Copper”), and will remain headquartered in Vancouver, British Columbia. The transaction was valued at $1.1 billion.

Old Capstone became a subsidiary of Capstone Copper by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia) pursuant to which, among other things, each issued and outstanding common share of Capstone has been exchanged for one newly issued common share of Capstone Copper, which together represent 60.2 percent of the issued and outstanding common shares of Capstone Copper. As at closing, the former shareholders of Mantos will maintain their shareholding in Capstone Copper, representing the remaining 39.8 percent of the outstanding common shares.

Blake, Cassels & Graydon LLP was counsel to Old Capstone with a team lead by Bob J. Wooder, that included Steven McKoen, Jamie Kariya, Evan Straight, Joey Levesque, Michelle Perini, Victoria Craib, Chetan Shory (Securities/M&A); Sean Boyle, Alexandra Luchenko (Litigation); Samantha Rossman, Sarah Manifold, Samantha Rossman (Financial Services); Julie Soloway, Victoria Skot (Competition); Kevin Zimka (Tax).

Stikeman Elliott LLP was counsel to Mantos.