Atico buys Toachi to create new Latin American copper/gold miner

TSX-V-listed mining juniors Atico Mining and Toachi Mining on Monday announced a transaction to create a new Latin America-focused copper/gold company, anchored by the producing El Robe mine in Colombia and the high-grade La Plata project, in Ecuador. In terms of the transaction, Atico will acquire all the Toachi issued and outstanding common shares on the basis of 0.24897 Atico common shares for each Toachi common share, implying a consideration of about C$0.073 a common share.