Vancouver, British Columbia, Feb. 19, 2025 (GLOBE NEWSWIRE) — Pampa Metals Corp. (“Pampa Metals” or the “Company”) (CSE:PM / FSE:FIR / OTCQB:PMMCF) and Rugby Resources Ltd. (“Rugby”) (TSXV:RUG) are pleased to advise they have executed a binding letter agreement contemplating the acquisition by Pampa Metals of 100% of Rugby’s shares (“the Transaction”). Highlights Transaction to […]
Pampa Metals has agreed to acquire all of Rugby Resources' shares, with each Rugby share being exchanged for 1/6.4 of a Pampa share, resulting in Rugby shareholders owning approximately 38% of Pampa. The transaction is subject to regulatory and shareholder approvals. Pampa plans to pursue a dual listing on the ASX and TSXV. Rugby's assets, including a 20% interest in the Cobrasco Project, will be spun off into a new company, Rugby Spinco, which will be distributed to Rugby shareholders but not listed. Bryce Roxburgh, CEO of Rugby, will join Pampa's board. The transaction includes the transfer of certain assets to Rugby Spinco, including the Cobrasco Project, El Zanjon, Venidero, Georgetown, and Mantau projects. The acquisition aims to create a leading South American copper explorer with projects in Argentina, Colombia, and Chile, including the Piuquenes copper-gold project in Argentina, which has shown significant drill results.
