Atico Mining Corp. - Corporate Update
VANCOUVER, October 10, 2013 - Atico Mining Corp. ("Atico" or the "Company") (TSX VENTURE:ATY) (PINKSHEETS:ATCMF) advises that, further to its press release dated August 8, 2013, a notice of civil claim has been filed with the British Columbia Supreme Court by Carl Nelson and Recursos del Caribe SA, the company through which Carl Nelson conducts his geological consulting business, (together, "Mr. Nelson"), naming Atico and three of Atico's directors as defendants. Mr. Nelson provided consulting services to the Company in connection with its El Roble project in Colombia and participated in financings undertaken by the Company prior to the Company's initial public offering. Mr. Nelson makes several allegations in his claim, including: alleging a key role in recognizing the mineral potential of the El Roble project and acting as a founder of Atico; alleging the existence of a partnership or joint venture; and alleging oppressive and unfair treatment related to the issuance of shares, benefits and his exclusion from the management of Atico. Mr. Nelson seeks various relief, including: claiming payment of a finder's fee of approximately $436,000 in connection with the El Roble project; seeking the right to purchase 2,500,000 additional shares of Atico at a pre-IPO subscription price from Atico, or alternatively, the individual defendants; seeking appointment to the board of directors of Atico or accorded such other meaningful and ongoing role in the affairs of Atico; and claiming other damages and costs in addition to the amounts already paid to him for his geological consulting services.
The allegations of Mr. Nelson have not been proven. The Company disputes Mr. Nelson's claims and will defend itself in this matter.
About Atico Mining Corporation
Atico is a growth oriented, copper and gold exploration and development company focused on mining opportunities in Latin America. The company's primary property is the El Roble project. The company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.