Peru Copper reports Notice of Compulsory Acquisition sent to remaining shareholders
August 22 2007 - 2:36PM
PR Newswire (US)
VANCOUVER, Aug. 22 /PRNewswire-FirstCall/ -- Peru Copper Inc. (TSX:
PCR / AMEX: CUP / BVL: CUP) ("Peru Copper" or the "Company")
reports that it has received notice today that Chinalco Canada B.C.
Holdings Ltd. ("Chinalco") has sent the Notice of Compulsory
Acquisition to all remaining Peru Copper shareholders, pursuant to
the Canada Business Corporations Act, to acquire all shares of Peru
Copper that it does not already own. This compulsory acquisition
follows Chinalco's acquisition in a takeover bid on July 31, 2007
of approximately 91% of the shares of Peru Copper that Chinalco and
its affiliates did not own at the time for Cdn$6.60 per share, the
price offered under Chinalco's takeover bid for all the shares of
Peru Copper. Peru Copper is involved in the acquisition and
exploration of potentially mineable deposits of copper in Peru. On
June 11, 2003, Peru Copper entered into the Toromocho Option
Agreement ("Toromocho Option") with a Peruvian state-owned mining
company, Empresa Minera del Centro del Peru S.A. ("Centromin"),
whereby Centromin granted the Company the option to acquire its
interest in the mining concessions and related assets of the
Toromocho Project. Centromin later transferred the rights and
obligations of the Toromocho Option to Activos Mineros, a Peruvian
state-owned mining entity. Cautionary Note to U.S. Investors-The
United States Securities and Exchange Commission permits U.S.
mining companies, in their filings with the SEC, to disclose only
those mineral deposits that a company can economically and legally
extract or produce. We use certain terms in our filings with the
SEC, such as "mineral deposit", that the SEC guidelines strictly
prohibit U.S. registered companies from including in their filings
with the SEC. U.S. Investors are urged to consider closely the
disclosure in our Form F-3 Registration Statement, File #
333-121527, which may be secured from us, or from the SEC's website
at http://www.sec.gov/edgar.shtml. CAUTIONARY NOTE REGARDING
FORWARD LOOKING-STATEMENTS This news release contains
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to the future price of copper and molybdenum, the timing of
exploration activities, the mine life of the Toromocho Project, the
economic viability and estimated internal rate of return of the
Toromocho Project, the estimation of mineral reserves and mineral
resources, the results of drilling, estimated future capital and
operating costs, future stripping ratios, projected mineral
recovery rates and Peru Copper's commitment to, and plans for
developing, the Toromocho Project. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may", "can", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Peru Copper to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the exploration and potential development of the
Toromocho Project, risks related to international operations, the
actual results of current exploration activities, conclusions of
economic evaluations, changes in project parameters as plans
continue to be refined, future prices of copper, silver, molybdenum
and gold, as well as those factors discussed in the section
entitled "Risk Factors" in the Form F-3 as on file with the
Securities and Exchange Commission in Washington, D.C. and in the
section entitled "Narrative Description of the Business - Risks of
the Business" in the Annual Information Form of the Company dated
March 24, 2005. Although Peru Copper has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Peru Copper does not
undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with
applicable securities laws. CONTACT: Patrick De Witt, Director of
Investor Relations at (604) 689-0234 or DATASOURCE: Peru Copper
Inc. CONTACT: Patrick De Witt, Director of Investor Relations at
(604) 689-0234 or
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