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METALS & MINING
toachimining.com

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Founded Year

2015

Stage

Acq - P2P | Acquired

About Toachi Mining

Toachi Mining (TSX: TIM.V, OTCQB: TIMF) focuses on the development of advanced stage mineral projects throughout the Americas using industry practices combined with a strong social license from local communities.

Toachi Mining Headquarter Location

1 Adelaide Street East, 20th floor

Toronto, Ontario, M5C 2V9,

Canada

(416) 365 7043

Latest Toachi Mining News

Atico Mining Corporation Completes Acquisition of Remaining 40% Interest in La Plata Project in Ecuador and Provides Country Update

Aug 20, 2021

Atico Mining Corporation Completes Acquisition of Remaining 40% Interest in La Plata Project in Ecuador and Provides Country Update VANCOUVER, Aug. 20, 2021 (GLOBE NEWSWIRE) — Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) is pleased to announce that its wholly-owned subsidiary, Toachi Mining Inc. (“Toachi”), has acquired the remaining 40% of the issued and outstanding shares (the “Purchased Shares”) of Compañia Minera La Plata S.A. (“CMLP”), which owns the concessions comprising the La Plata project. The acquisition was completed pursuant to a share purchase agreement (the “Share Purchase Agreement”) dated the date hereof (the “Closing Date”) among Toachi, Atico and certain shareholders (the “Sellers”) of CMLP (the “Acquisition”). As a result of the Acquisition, CMLP is now a wholly-owned subsidiary of Toachi. Pursuant to the Share Purchase Agreement, Toachi acquired the remaining 40% ownership interest in CMLP for an initial cash payment of US$7,000,000 on the Closing Date and will pay three installments of US$1,000,000 (each, an “Installment”) upon each anniversary of the Closing Date for three years, for an aggregate purchase price of US$10,000,000. A portion of the Purchased Shares will be subject to pledge agreements with each of the Sellers, whereby such pledged shares will be released over three years upon payment of each Installment. The Company is very pleased with this transaction as it consolidates ownership of a project it has already committed to advancing through production. While at the same time, the Ecuadorian government is taking positive steps towards creating a favorable environment for increased international investment into the mining sector. Country Update On August 5th, the Ecuadorian President Guillermo Lasso invited mining executives to launch a concrete strategy on mining policies for Ecuador, presented as the Executive Decree #151 (“the Mining Decree”). The Mining Decree serves to define a clear framework that will attract more mining investment and reaffirms the government’s support towards existing responsible mining projects in Ecuador. The Mining Decree defines specific actions including: Creation of a favourable investing environment through legal certainty in mining investments Acceleration of permitting and bureaucratic steps Inter-institutional collaboration to fight illegal mining and promote legal and responsible mining Alain Bureau, Atico’s President commented on the meeting: “This Mining Decree is a solid commitment by the country’s executives with precise timing and deliverables representing the President Lasso’s intentions to reactivate the Ecuadorian economy through job creation and attracting large investments in the mining sector. The La Plata project has been identified as a priority project by President Lasso while Atico has reaffirmed its commitment to bring La Plata to production within this government’s term.” About Atico Mining Corporation Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing it’s high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit  www.aticomining.com . ON BEHALF OF THE BOARD Fernando E. Ganoza

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