Atico Mining, a leading mining company focused on developing and operating copper-gold projects in Latin America acquires Toachi Mining, a leading mining firm in Ecuador. Financial terms were not disclosed. Under the terms of the Agreement, all of the Toachi issued and outstanding common shares will be exchanged on the basis of 0.24897 Atico common shares for each Toachi common share (the “Exchange Ratio”). The Exchange Ratio implies consideration of approximately $0.056 per Toachi common share, based on the closing price of Atico common shares on the TSX Venture Exchange on July 5, 2019. This represents a 47% premium to Toachi’s closing price and a 49% premium to the 20-day volume-weighted average price as at July 5, 2019 on the TSX-V. “The robust synergies between both Companies makes this business combination a logical step towards building a peer leading and profitable copper-gold producer in Latin America. The Board, Management and certain major shareholders of Toachi fully support the planned combination between our two Companies. Additionally, the Transaction offers an optimized combination of experienced mining professionals who share common values of protecting the environment and responsibly supporting the development of communities we operate in”. Alain Bureau, Toachi CEO.