Capstone Copper and Orion Announce Closing of C$328 Million Secondary Bought Deal Offering of Common Shares

Mar 31, 2023

Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS, Financial) and Orion Fund JV Limited, Orion Mine Finance Fund II LP and Orion Mine Finance (Master) Fund I-A LP (collectively, “Orion” or the “Selling Shareholders”) jointly announce the closing of the previously announced secondary bought deal offering (the “Secondary Offering”) of common shares of Capstone (“Common Shares”). Pursuant to the Secondary Offering, the Selling Shareholders sold an aggregate of 57,500,000 Common Shares at a price of C$5.70 per Common Share for aggregate gross proceeds to the Selling Shareholders of C$327,750,000. The Secondary Offering included 7,500,000 Common Shares sold pursuant to the exercise in full by the Underwriters (as defined below) of the over-allotment option granted to the Underwriters by the Selling Shareholders. The Secondary Offering was made pursuant to an underwriting agreement dated March 24, 2023 among Capstone, the Selling Shareholders and a syndicate of underwriters co-led by National Bank Financial and Scotiabank (collectively, the “Underwriters”).

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