Mitsubishi invests C$20M in Marimaca Copper

On July 11, 2023, Marimaca Copper Corp. ("Marimaca") closed the previously announced C$20 million equity investment by Mitsubishi Corporation ("Mitsubishi") by way of non-brokered private placement. As a result of the strategic investment, Mitsubishi owns approximately 5% of Marimaca's issued and outstanding shares on a non-diluted basis. The proceeds will be used to develop the flagship Marimaca Copper Project, an oxide, open-pit, heap leach copper project located in the Antofagasta Region of northern Chile.

Marimaca is a Toronto-based copper company that engages in the acquisition, exploration, and development of mineral properties and projects in the United States and Chile.

Mitsubishi, headquartered in Tokyo, is Japan's largest general trading company with operations in approximately 80 countries worldwide.

McCarthy Tétrault advised Marimaca with a team led by Robin Mahood that included Kyle Riddell and Kara Bodie (Business).