Marimaca Completes $30.9 Million Non-Brokered Private Placement
News Release
Not for distribution to United States newswire services or for dissemination in the United States
Marimaca Completes $30.9 Million Non-Brokered Private Placement
Vancouver, British Columbia, March 1, 2021 – Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX:
MARI) announced today it has completed a non-brokered private placement pursuant to which it has issued 9,377,273
units (“Units”) at a price of $3.30 per Unit for aggregate gross proceeds of $30,945,000. Each Unit is comprised of one
common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant of the
Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional
Common Share at an exercise price of $4.10 at any time up to and including December 3, 2022. The proceeds of the private
placement will be used to advance the Company's Marimaca Project and for working capital purposes.
In connection with the private placement, the Company will issue to certain eligible persons an aggregate of 181,545
Common Shares, representing 2% of the number Units issued pursuant to the private placement, in consideration for
services rendered in connection with introducing the Company to investors who participated in the private placement.
The Company also announced that Greenstone Resources II LP and Greenstone Co-Investment No. 1 (Coro) LP (collectively,
"Greenstone") have elected to acquire 4,205,333 Units pursuant to the exercise of pre-emptive rights, resulting in
additional gross proceeds to the Company of approximately $13.9 million. The issuance of additional Units to Greenstone
is expected to be completed on or about March 11, 2021.
All securities issued pursuant to the private placement, including the Common Shares issued in consideration for services
rendered in connection with introducing the Company to investors, will be subject to a four month hold period
commencing on the applicable issue date.
This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
Units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration
under the securities laws of any such jurisdiction. This news release does not constitute an offer of securities for sale in
the United States. The Units have not been, nor will they be, registered under the United States Securities Act of 1933, as
amended, and such Units may not be offered or sold within the United States absent registration under U.S. federal and
state securities laws or an applicable exemption from such U.S. registration requirements.
Contact Information
For further information please visit www.marimaca.com or contact:
Tavistock
+44 (0) 207 920 3150
Jos Simson/Emily Moss
Forward Looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation,
including statements related to the anticipated use of the proceeds from the sale of the Units and the potential issuance
of additional Units to Greenstone. 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 annual information form of the
Company dated April 8, 2020, the final short form base prospectus and other filings made by the Company with the
Canadian securities regulatory authorities (which may be viewed at www.sedar.com). 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.
Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility
for the adequacy or accuracy of this release.