Coro Announces Change of Name to Marimaca Copper Corp. & Share Consolidation
News Release
Coro Announces Change of Name to Marimaca Copper Corp. & Share
Consolidation
Vancouver, British Columbia, May 27, 2020 – Coro Mining Corp. (“Coro” or the “Company”) is pleased to
announce it has changed its name to Marimaca Copper Corp. (“Marimaca Copper”) to align with its flagship
development project in Chile . The Company has also undertaken a 25:1 share consolidation as part of a
capital reorganisation.
The Company’s new website address is www.marimaca.com where its latest investor presentation can be
found. An interview with the recently appointed Executive Chairman, Michael Haworth, can be found at
https://www.b-tv.com/coro-mining-changes-name-to-marimaca-copper-corp-news-alert-30sec.
The Company’s new ticker will be MARI and trading under the new name on the TSX will commence today,
the 27th of May 2020.
Michael Haworth, Executive Chairman commented:
“The Marimaca Copper Project is one of the most significant copper oxide discoveries in Chile in a decade,
and today’s announcement symbolises the commencement of an exciting new chapter in the Company’s
evolution.
We have a clear focus on developing Marimaca, which we believe has all of the hallmarks of a low capital
cost, high margin, copper development project. A Preliminary Economic Assessment for the Project is
underway, which we expect will show the project has robust and compelling economics across a broad
range of copper prices.
In addition, we remain very excited about the ongoing exploration potential at Marimaca, especially in the
near mine oxide potential and for extensions at depth in the sulphide zone. Any exploration success will only
add to what is already a tremendous investment case.
We are making significant progress on the various technical de -risking workstreams and we look forward
to releasing the results of these programs to the market when they are complete.”
Share Consolidation
Effective at the opening of markets on the 27th of May 2020, the Company completed the consolidation of
its common shares (the “Share” or “Shares”) on the basis of one (1) post -consolidated Share for every
twenty-five (25) pre-consolidation Shares held (the “Consolidation”).
Prior to the Consolidation, t he Company had 1,608,946,194 common shares issued and outstanding and
42,995,539 options issued and outstanding. Following the Consolidation , the Company has 64,357,847
common shares issued and outstanding and 1,719,821 options issued and outstanding.
On the 25 th of May 2020, a letter of transmittal with respect to the Consolidation was mailed to all
shareholders of the Company. All shareholders who submit a duly completed letter of transmittal along
with their respective share certificate(s) representing the pre -consolidated Shar es to the Company’s
transfer agent, Computershare, will receive a certificate representing the post-consolidated Shares.
Dealings in the new common shares are expected to commence trading on the TSX at market open today,
the 27th of May 2020.
Contact Information
For further information please visit www.marimaca.com or contact:
Tavistock
+44 (0) 207 920 3150
Jos Simson/Emily Moss
About Marimaca and the Marimaca Copper Project
Marimaca is fast becoming recognised as one of the most significant copper oxide discoveries in Chile in
recent years, as it is a new type of deposit which challenges accepted exploration wisdom . Marimaca is
hosted by intrusive rocks, while the numerous manto deposits in the same region are hosted by volcanics.
With a lack of new copper discoveries in Chile, the growing Marimaca resource is a high -profile
development project as it is situated in the coastal belt at low elevation close to An tofagasta and
Mejillones. This prime location could enable its future development at a relatively modest capital
investment. Marimaca will benefit from nearby existing infrastructure including roads, powerlines, ports,
a sulphuric acid plant, a skilled workforce and seawater for use in processing the oxide ore.
Forward Looking Statements
This news release includes certain “forward -looking statements” under applicable Canadian securities
legislation. These statements relate to future events or the Company’s future performance, business
prospects or opportunities. Forward -looking statements include, but are not limited to, the impact of a
rebranding of the Company, the future development and exploration potential of the Marimaca Project.
Actual future results may differ materially. 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. Forward -looking statements reflect the beliefs, opinions and projections on the date the
statements are made and are based upon a number of assumptions and estimates that, while considered
reasonable by Marimaca Copper, are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors, both known and unknown, could cause
actual results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward-looking statements and the parties
have made assumptions and estimates based on or related to many of these factors. Such factors include,
without limitation: risks related to share price and market conditions, the inherent risks involved in the
mining, exploration and development of mineral properties, the uncertainties involved in interpreting
drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost
overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity
of financing, the availability of and costs of financing needed in the future as well as those factors disclosed
in the Company’s documents filed from time to time with the securities regulators in the Provinces of
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward
Island and Newfoundland and Labrador. Accordingly, readers should not place undue reliance on forward-
looking statements. Marimaca Copper undertakes no obligation to update publicly or otherwise revise any
forward-looking statements contained herein whether as a result of new information or future events or
otherwise, except as may be required by law.