TORONTO, Dec. 23, 2014 /CNW/ – Frontdeal Limited (“Frontdeal”) and Aterra Investments Limited (“Aterra”) announce they have entered into a share purchase agreement pursuant to which Frontdeal has acquired all of Aterra’s ownership interest in securities of Atico Mining Corporation (“Atico”), consisting of 10,904,462 common shares of Atico (the “Acquired Shares”), and an aggregate of 4,450,000 warrants to purchase additional common shares of Atico (the “Acquired Warrants”). Frontdeal is a company wholly-owned indirectly by Mr. Alexey Mordashov, and the Acquired Shares and Acquired Warrants were purchased in connection with a reorganization of his investment holdings. The Acquired Shares were purchased for a deferred cash payment equal to the Russian Rouble equivalent of C$0.57 per share. The Acquired Warrants were acquired for no additional consideration.

The Acquired Shares represent approximately 11.2% of the 97,591,571 outstanding common shares of Atico, being the number of outstanding common shares on November 19, 2014 as disclosed by Atico. Assuming the exercise of all the Acquired Warrants and no other new issuances of common shares by Atico at or prior to such time, the common shares acquired upon such exercise, together with the Acquired Shares, would amount in aggregate to 15,354,462 common shares, representing approximately 15% of the then outstanding common shares.

Frontdeal acquired the Acquired Shares and Acquired Warrants for investment purposes and continues to monitor the business, prospects, financial condition and potential capital requirements of Atico. Depending on its evaluation of these and other factors, Frontdeal may from time to time in the future increase or decrease its ownership, control or direction over the common shares or other securities of Atico through market transactions, private agreements, subscriptions from treasury or otherwise.

SOURCE Aterra Investments Limited