Capstone Copper Corp. and Orion have jointly announced that they have agreed with a syndicate of underwriters led by RBC Capital Markets, as Lead Bookrunner and including National Bank Financial and Scotiabank as Joint Bookrunners under which the Underwriters have agreed to purchase 59,520,000 common shares of Capstone for CAD 6.30 per Common Share for aggregate gross proceeds of CAD 374.9 million (USD 278 million).

Capstone Copper Corp. is a Vancouver-based copper mining company with operations in the Americas. Their assets include the Pinto Valley copper mine in Arizona, USA, the Cozamin copper-silver mine in Zacatecas, Mexico, the Mantos Blancos copper-silver mine in Chile, and a 70% stake in the Mantoverde copper-gold mine. Additionally, they own the Santo Domingo copper-iron-gold project near Mantoverde and hold exploration properties across the Americas.

The funds generated from the Offering, received by Capstone, will be allocated towards advancing imminent growth initiatives in Chile. This notably includes progressing the Mantoverde Optimized Project and the detailed engineering of Santo Domingo, as well as supporting expansionary exploration programs. Additionally, the funds will be utilized for general corporate purposes, enhancing working capital, and providing added flexibility to the balance sheet, as detailed in the prospectus supplement. As a component of the Offering, Orion has committed, with certain limited exceptions, to refrain from selling any Common Shares or other securities of Capstone for 90 days following the completion of the Offering. Similarly, the Company has agreed, subject to certain limited exceptions, to refrain from issuing any Common Shares or other securities of Capstone for 90 days post the Offering's closing.