Shares of Mineral Company Bid Higher After Signing of Agreement

By: Tomas Ronolski - AllPennyStocks.com News

Monday, October 7, 2024

This development-stage copper company is seeing its shares rise after announcing a definitive agreement with a Japanese mining and trading company. Located in Chile, the project demonstrates excellent infrastructure, with paved highways to Punta Colorada and a well-maintained 45-kilometer gravel road to the site. The project is ready for construction, with major permits in place.

Camino Minerals Corporation (TSXV:COR) (OTC PINK:CAMZF) announced in a press release today that, further to its news release on June 27, 2024, it has entered into a definitive share purchase agreement dated October 4, 2024, with Nittetsu Mining Co., Ltd. and Santiago Metals Investment Holdings II SL and Santiago Metals Investment Holdings II-A LLC, pursuant to which Camino and Nittetsu will jointly acquire all of the issued and outstanding shares of Cuprum Resources Chile SpA, a Chilean incorporated company and the owner of the Puquios Project, a construction-ready copper project located in Chile.

In connection with the transaction, and subject to the approval of the TSX Venture Exchange, Camino intends to undertake a private placement of common shares to close prior to or concurrently with the transaction's closing for gross proceeds of up to $2 million for working capital purposes.

Shares of Camino Minerals were trading higher in mid-day trade.

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