VANCOUVER, British Columbia, April 01, 2025 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. ("Marimaca" or the "Company") (TSX: MARI) (ASX: MC2) is pleased to announce that the Company has been admitted to the official list of the Australian Securities Exchange ("ASX") as a Foreign Exempt Listing, on March 31st 2025 (AEDT), and that the securities of the Company will commence quotation at 13:00 (1:00pm) Australia Eastern Daylight Time (AEDT) on April 2nd 2025.
Shares of the Company will trade under the ticket MC2 and will be settled in the form of CHESS Depositary Interests ("CDIs"). Each CDI will be equivalent to one fully paid common share of the Company.
Hayden Locke, President & CEO, commented:
"The commencement of trading of Marimaca on the ASX marks a significant milestone for the Company as we advance the development of the Marimaca Copper Project, and I would like to thank the Marimaca team, and our advisors, for their extremely efficient delivery of the workstreams required to get us here. We are at an important inflection point as a company, and the dual listing on the ASX and TSX broadens the pool of institutional capital that we have access to.
"We now have a more clear view on the timing of our environmental approvals, with our DIA submitted, and we have set ourselves an ambitious internal target to be construction ready in the middle of 2026. Access to a broad pool of capital to support our development objectives, therefore, becomes ever more critical.
"In addition, we will continue to pursue our parallel value creation strategy, with an aggressive exploration program across Sierra de Medina and at the Marimaca Oxide Deposit Sulphide Target, to continue to underpin our growth ambitions, and provide value catalysts to our investors over the course of 2025, as we seek to become a new, and globally significant, source of copper supply in the near term."
About Marimaca Copper Corp.
Marimaca is a copper exploration and development company focused on its 100%-owned flagship Marimaca Copper Project and surrounding exploration properties located in Antofagasta Region, Chile.
The Marimaca Copper Project hosts the Marimaca Oxide Deposit (the "MOD"), an IOCG-type copper deposit. The Company is currently progressing the Marimaca Copper Project through the Definitive Feasibility Study led by Ausenco Chile Ltda. In parallel, the Company is exploring its extensive land package in the Antofagasta region, including the >15,000ha wholly-owned Sierra de Medina property block, located 25km from the MOD.
Contact Information
For further information please visit www.marimaca.com or contact:
Tavistock
+44 (0) 207 920 3150
Emily Moss / Ruairi Millar
marimaca@tavistock.co.uk
Forward Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including, without limitation, anticipated benefits of the ASX listing, expansion into new markets, future financial performance, permitting timelines, development timelines, exploration strategy and financing plans. 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, 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, regulatory changes, access to capital markets, 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, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, 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 March 27, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca). There is no assurance that the Company will achieve the anticipated benefits of its ASX listing or successfully execute its strategic initiatives. Readers should not place undue reliance on forward-looking statements. Marimaca 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 TSX nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.
