Atacama Copper Appoints Tim Warman as CEO and Director
Atacama Copper Appoints Tim Warman as
CEO and Director
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2022) - Atacama Copper Corporation
(TSXV:
ACOP
) ("Atacama Copper" or the "Company") is pleased to announce the appointment of Tim
Warman as Chief Executive Officer and Director. Mr. Warman is a mining executive and geologist with
more than 30 years of experience ranging from early-stage exploration to production. He has held senior
leadership roles and board positions with some of the industry's most notable companies. Most recently
he was CEO of Fiore Gold, a successful Nevada gold producer that was acquired by Calibre Mining in
early 2022. Prior to Fiore Gold, he served on the board of Continental Gold (Buritica Deposit, Colombia,
acquired by Zijin Mining), was President of Dalradian Resources (Curraghinalt Deposit, Northern Ireland,
acquired by Orion Mine Finance) and Vice-President, Corporate Development, of Aurelian Resources
Inc., which discovered the Fruta del Norte gold deposit in Ecuador before being acquired for $1.2 billion
by Kinross Gold Corp. Earlier in his career he held senior positions in mining and exploration companies
in the Americas, Africa and Europe. Tim is a graduate of the University of Manitoba (MSc) and
McMaster University (BSc) and is a member of the Association of Professional Geoscientists of Ontario.
In connection with his appointment, Mr. Warman has been granted 300,000 stock options in the
Company. Each stock option is exercisable, for a period of 5 years from the date of grant, to acquire one
common share of Atacama Copper at an exercise price of C$0.20. The stock options shall vest in three
equal parts on the grant date, first anniversary and second anniversary of the grant date. Mr. Warman's
appointment is subject to TSX Venture Exchange approval.
Mr. Gino Zandonai will transition to the role of Senior VP of Business Development, focusing on
identifying and evaluating acquisition targets. Gino's long experience and extensive connections in Chile
and across South America will be integral to the company's growth strategy.
"On behalf of the Board I'm pleased to welcome Tim as the new CEO," said Martyn Buttenshaw,
Chairman of Atacama Copper. "Tim's broad experience across project development stages and capital
markets is a welcome addition to the team, and we look forward to working with him as we grow the
Company."
Tim Warman, incoming CEO, commented, "I'm excited to be joining Atacama and look forward to
working with the team as we build a significant Americas-focused copper company. Atacama is a strong
platform for growth with two prospective early-stage copper properties and the support of well-known,
long-term shareholders. The company is well financed with over $2m in cash as of March 31, 2022. We
will be drawing on our team's extensive knowledge of copper development and production assets and
aggressively pursuing opportunities to grow the company over the coming months."
Coincident with Mr. Warman's appointment, a group of purchasers have entered into agreements to
purchase a total of 6,600,000 common shares of the Company ("Shares") from the principal
shareholders of the Company (the "Share Transaction"). As part of the Share Transaction, it is
anticipated that Mr. Warman will acquire 675,000 Shares (being 1.96% of the outstanding Shares) and
Scott Hicks, a director of the Company, will increase his shareholding by a further 200,000 Shares to a
total of 585,000 Shares (being 1.7% of the outstanding Shares). Additionally, upon completion of the
Share Transaction, Medalist Capital Ltd. will become an insider of the Company, as it is anticipated that
their stake will increase to 13.4% of the outstanding Shares. As a result of the Share Transaction, Gino
Zandonai, Atacama's largest shareholder, will reduce his position from 31.15% to 20.7%.
About Atacama Copper Corporation
Atacama Copper Corporation is a resource company focusing on acquiring, exploring, and developing
copper properties in Chile and elsewhere in the Americas. It is committed to advancing the exploration
and development of the Placeton and El Cofre projects while looking to increase its asset portfolio
through the acquisition and development of other high-value copper exploration, development, and
production opportunities. Atacama Copper's Placeton project is a large porphyry copper target located
between the Relincho and El Morro Copper-gold deposits of the Nueva Union joint venture between
Teck and Newmont Mining.
Additional Information - Please Contact
For further information, please contact:
Atacama Copper Corporation
Tim Warman
Chief Executive Officer and Director
Email:
Cautionary Statements
This news release contains "forward-looking information" and "forward-looking statements"
(collectively, "forward-looking statements") within the meaning of the applicable Canadian securities
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are based on expectations, estimates and projections as at the date of this news release. Any
statement that involves discussions with respect to predictions, expectations, beliefs, plans,
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looking statements.
In this news release, forward-looking statements relate to, among other things, statements relating to
the completion of the Share Transaction and certain shareholders holdings post-closing, expectations
regarding the exploration and development of the El Cofre and Placeton projects, including planned
exploration and drilling activities, and other statements that are not historical facts. By their nature,
forward-looking statements involve known and unknown risks, uncertainties and other factors which
may cause our actual results, performance or achievements, or other future events, to be materially
different from any future results, performance or achievements expressed or implied by such forward-
looking statements. Such factors and risks include, among others: the Company may require
additional financing from time to time in order to continue its operations which may not be available
when needed or on acceptable terms and conditions acceptable; compliance with extensive
government regulation; domestic and foreign laws and regulations could adversely affect the
Company's business and results of operations; the stock markets have experienced volatility that
often has been unrelated to the performance of companies and these fluctuations may adversely
affect the price of the Company's securities, regardless of its operating performance; and the impact
of COVID-19.
The forward-looking information contained in this news release represents the expectations of the
Company as of the date of this news release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward-looking information and should not rely upon
this information as of any other date. The Company undertakes no obligation to update these forward-
looking statements in the event that management's beliefs, estimates or opinions, or other factors,
should change.
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while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors
which may cause the actual results and future events to differ materially from those expressed or
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