Toachi Mining Shareholders Approve Plan of Arrangement with Atico Mining

Toachi Mining Inc. (“Toachi”) (TSX-V:TIM; OTC:TIMGF) announces that its shareholders have approved the acquisition by Atico Mining Corporation (“Atico”) (TSX-V:ATY; OTC:ATCMF) of all of its issued and outstanding shares by way of a plan of arrangement under section 192 of the Canada Business Corporations Act (the “Arrangement”) to create a new Latin American focused copper-gold Company.

At a special meeting of Toachi’s shareholders held yesterday, the Arrangement was approved by 99.998 % of the votes cast by shareholders (99.998 % excluding the votes cast by Shareholders that were required to be excluded pursuant to Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions).

Toachi will seek a final order from the Superior Court of Ontario with respect to the Arrangement on September 9, 2019 and expects that all other conditions to the completion of the Arrangement will be satisfied within five (5) business days of obtaining such court order.


About Atico Mining Corporation

Atico Mining is a Canadian-based Company focused on developing and operating copper-gold projects in Latin America. Drawing on the extensive operational experience of management and directors in Latin America, the Company's strategy is to build a mid-tier copper-gold producer by acquiring advanced-stage projects with potential for high-margin operations and sustainable organic growth.


About Toachi Mining Inc.

Toachi brings a disciplined and veteran team of project managers together with one of the industry’s highest-grade polymetallic projects at the La Mina VMS deposit in Ecuador. Toachi is focused on and committed to the development of advanced stage mineral projects throughout the Americas using industry best practices combined with a strong social license from local communities.

For further information please visit the Atico and Toachi websites at www.aticomining.com or www.toachimining.com.


Forward-Looking Statements: Statements made in this press release, or management objectives, forecasts, estimates, expectations, or predictions of the future may constitute “forward-looking statements”, which can be identified by the use of conditional or future tenses or by the use of such verbs as “believe”, “expect”, “may”, “will”, “should”, “estimate”, “anticipate”, “project”, “plan”, and words of similar import, including variations thereof and negative forms. This press release contains forward-looking statements that reflect, as of the date of this press release, Toachi’s expectations, estimates and projections about its operations, the mining industry and the economic environment in which it operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Toachi believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of this press release. Toachi disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by securities legislation.

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 news release. Statements made in this news release that are not historical facts are “forward-looking statements” and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these “forward-looking” statement.



Contact

Igor Dutina, Corporate Development
Atico Mining Corporation
604-633-9022
idutina@aticomining.com

Talia Shewchuk, Corporate Secretary
Toachi Mining Inc.
416-365-2428
tshewchuk@toachimining.com