VANCOUVER, BC, Dec. 15,
2022 /PRNewswire/ - Copper Mountain Mining
Corporation (TSX: CMMC) (ASX: C6C) (the "Company" or
"Copper Mountain") is pleased to announce that the Foreign
Investment Review Board ("FIRB") in Australia granted approval on December 13, 2022 (the "FIRB Approval") for the
previously announced sale of Copper Mountain's wholly-owned Eva
Copper Project and its 2,100km2 exploration land
package in Queensland, Australia (the "Transaction") to
Harmony Gold Mining Company Limited (JSE: HAR) (NYSE: HMY)
("Harmony"). See Copper Mountain's
press release dated October 6, 2022
("Copper Mountain Mining Announces Agreement to Sell the Eva
Copper Project and the Australian Exploration Tenements for Total
Consideration of up to US$230
Million") for additional details regarding the
Transaction.
The FIRB Approval was the final key condition to the closing of
the Transaction. The Company expects the Transaction to be
completed imminently upon the Company receiving the cash
consideration for the Transaction from Harmony.
About Copper Mountain Mining
Corporation
Copper Mountain's flagship asset is the 75% owned Copper
Mountain Mine located in southern British
Columbia near the town of Princeton. The Copper Mountain Mine currently
produces approximately 100 million pounds of copper equivalent on
average per year. Copper Mountain trades on the Toronto Stock
Exchange under the symbol "CMMC" and Australian Stock Exchange
under the symbol "C6C".
Additional information is available on the Company's web page at
www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
"Gil
Clausen"
Gil Clausen
President and Chief Executive Officer
Website: www.CuMtn.com
Cautionary Note Regarding
Forward-Looking Statements
This news release may contain "forward looking information"
within the meaning of Canadian securities legislation and
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995
(collectively, "forward-looking statements"). These forward-looking
statements are made as of the date of this news release and Copper
Mountain does not intend, and does not assume any obligation, to
update these forward-looking statements, whether as a result of new
information, future events or otherwise, except as required under
applicable securities legislation.
All statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
relate to future events or future performance and reflect Copper
Mountain's expectations or beliefs regarding future events.
In certain circumstances, forward-looking statements can be
identified, but are not limited to, statements which use
terminology such as "plans", "expects", "estimates", "intends",
"anticipates", "believes", "forecasts", "guidance", scheduled",
"target" or variations of such words, or statements that certain
actions, events or results "may", "could", "would", "might",
"occur" or "be achieved" or the negative of these terms or
comparable terminology. In this news release, certain
forward-looking statements are identified, including the
anticipated closing date of the Transaction, anticipated production
at the Copper Mountain Mine, and expectations for other economic,
business and/or competitive factors. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
that could cause actual results, performance, achievements and
opportunities to differ materially from those implied by such
forward-looking statements. Factors that could cause actual results
to differ materially from these forward-looking statements include,
among others, assumptions concerning the Transaction and the
operations and capital expenditure plans of the Company following
completion of the Transaction, the potential impact of the
consummation of the Transaction, the diversion of management time
on the Transaction, the successful exploration of the Company's
property in Canada, market price,
continued availability of capital and financing and general
economic, market or business conditions, the Company's ability to
comply with its financial covenants under its bond terms and meet
its future cash commitments, extreme weather events, material and
labour shortages, the reliability of the historical data referenced
in this document and risks set out in Copper Mountain's public
documents, including the management's discussion and analysis for
the quarter ended September 30, 2022
and the annual information form dated March
29, 2022, each filed on SEDAR at www.sedar.com. Although
Copper Mountain has attempted to identify important factors that
could cause the Company's actual results, performance, achievements
and opportunities to differ materially from those described in its
forward-looking statements, there may be other factors that cause
the Company's results, performance, achievements and opportunities
not to be as anticipated, estimated or intended. While the Company
believes that the information and assumptions used in preparing the
forward-looking statements are reasonable, undue reliance should
not be placed on these statements, which only apply as of the date
of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all.
Accordingly, readers should not place undue reliance on the
Company's forward-looking statements.
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SOURCE Copper Mountain Mining Corporation