Cobriza Metals and Candente Copper have previously entered into a definitive arrangement agreement.

Under the terms of the accord, Candente Copper will acquire all of the Cobriza’s issued and outstanding common shares by way of proposed statutory plan of arrangement under the Business Corporations Act (British Columbia).

Completion of the deal is subject to satisfaction of various conditions, including the issuance of a final order approving the arrangement by the Supreme Court of British Columbia.

The arrangement is scheduled to be effective on or before 11 September 2013 and the Candente Copper’s current management team, with the addition of Michael Thicke, will manage the Cobriza affairs following completion of the transaction.

A TSX Venture listed mineral exploration company, Cobriza is focused on exploration and development of base metals mining projects in Peru and Latin America.