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Copper Mountain announces court approval for the acquisition of Altona Mining and approval to list on the Australian Stock Exchange

03.04.2018  |  CNW
VANCOUVER, April 3, 2018 - Copper Mountain Mining Corp. (TSX: CMMC) ("Copper Mountain") is pleased to announce that the Federal Court of Australia (the "Court") has made orders approving the scheme of arrangement between Altona Mining Ltd. ("Altona") and its shareholders under which Copper Mountain will acquire all of the shares in Altona (the "Scheme"). Copper Mountain anticipates that Altona will lodge a copy of the Court's orders approving the Scheme with the Australian Securities and Investment Commission ("ASIC") on April 4, 2018, at which time the Scheme will become effective.

The Company is also pleased to announce it has received approval, subject to the usual conditions, from the Australian Securities Exchange ("ASX") to admission of Copper Mountain to the Official List and to the Official Quotation of Copper Mountain's CHESS Depository Instruments (CDIs). It is anticipated that trading in Altona's shares on the ASX will be suspended from close of trading on April 4, 2018 and that trading in Copper Mountain CDIs (which have been assigned a stock code of "C6C") is expected to commence on a deferred settlement basis on April 5, 2018.

It is anticipated that the Scheme will be implemented on April 18, 2018, at which time Copper Mountain CDIs will commence trading on the ASX.


About Altona Mining Limited

Altona's principal asset is the Cloncurry Copper Project in Queensland, Australia found within a dominant 3,970 square kilometre land package in the highly prospective Mt. Isa inlier. It is envisaged that an open pit copper-gold mine and 7 million tonnes per annum concentrator will be developed. The development is permitted with proposed annual production of 39,000 tonnes of copper and 17,200 ounces of gold for a minimum of 14 years.


About Copper Mountain Mining Corporation

Copper Mountain's flagship asset is the Copper Mountain mine located in southern British Columbia near the town of Princeton. The Company has a strategic alliance with Mitsubishi Materials Corporation who owns 25% of the mine. The Copper Mountain mine has a large resource of copper that remains open laterally and at depth. This significant exploration potential is being explored over the next few years in order to fully appreciate the property's full development potential. Additional information is available on the Company's web page at www.CuMtn.com.


On behalf of the Board of Directors of COPPER MOUNTAIN MINING CORPORATION

"Jim O'Rourke"
Jim O'Rourke, P.Eng., President & CEO



Note: This release contains forward-looking statements that involve risks and uncertainties including, but not limited to (i) the suspension of trading on the ASX; (ii) the commencement of trading of the CMMC CDI's; and (iii) the implementation of the Scheme. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement.

SOURCE Copper Mountain Mining Corp.



Contact

Dan Gibbons, Investor Relations at 604-682-2992 ext. 238 or e-mail: Dan@cumtn.com; Rod Shier, Chief Financial Officer at 604-682-2992 ext.222 or e-mail: Rod@CuMtn.com
Website: www.CuMtn.com
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