SOURCE: Frontera Copper Corporation
December 03, 2008 14:36 ET
Frontera Copper Responds to Unsolicited Offer From Invecture Group
TORONTO and PHOENIX, AZ--(Marketwire - December 3, 2008) - Frontera Copper Corporation (TSX: FCC) (TSX: FCC.NT) (TSX: FCC.NT.A) issued the following statement in
response to the announcement by Invecture Group, S.A. de C.V., a Mexican
registered company ("Invecture"), that Invecture is making an unsolicited
offer to acquire all of the outstanding shares of the Company at a price of
C$0.59 per share.
As previously announced, the Board of Directors has appointed a Corporate
Finance Committee comprised entirely of independent directors (the "Special
Committee") to review and consider a variety of corporate strategic
alternatives. With the assistance of the Company's financial and legal
advisors, RBC Capital Markets and Beach, Hepburn LLP, respectively, the
Special Committee is committed to ensuring that maximum value is achieved
for all stakeholders of the Company.
The Company advises shareholders to neither deposit any shares to the
Invecture offer nor undertake any other actions concerning the offer until
shareholders have received further communications from the Board of
Directors.
ABOUT FRONTERA COPPER CORPORATION
Frontera Copper is a Canadian mining, development and exploration company
whose principal activity is the production of copper cathode from the
Piedras Verdes run-of-mine heap-leach copper operation in Sonora, Mexico.
Based on the January 1, 2008 ore reserves and the estimated recoverable
copper contained on the leach pads at December 31, 2007, approximately 1
billion pounds of copper are projected to be produced over the remaining
17-year life of the operation.
For further information, please see Frontera Copper's website at
www.fronteracopper.com or contact: