VANCOUVER, British Columbia, Sept. 17, 2025 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) is pleased to announce that further to the Press Release on March 5th, 2024, another milestone has been reached with the signing of the Investment Protection Agreement (IPA). The agreement with the Ecuadorian State is for development of the La Plata mining project covering a total investment of USD$157.9 million.
Fernando E. Ganoza, CEO commented, "The signing of the IPA for the La Plata project is a significant milestone that underscores our commitment to sustainable development and economic growth in Ecuador. This agreement, with its robust legal and tax stability provisions, not only safeguards current and future $157.9 million of investments throughout the life of the mine but also strengthens investor confidence by ensuring a predictable and secure environment while positioning La Plata as a cornerstone for responsible mining and long-term value creation for all stakeholders."
Key benefits of the IPA
- Grants legal and tax stability for the project during the life of the contract.
- Grants an income tax reduction of 5% during the life of the contract.
- Allows for international arbitration in case of disputes.
The La Plata Project’s IPA provides comprehensive safeguards for investors ensuring legal stability by guaranteeing that sector-specific essential regulations remain unchanged for the duration of the project. Tax stability is granted for corporate income tax, covering rules determining the taxable base and tax due at the time of signing, though administrative procedures are excluded, and investors may opt for the current tax regime if preferred. Similarly, tax incentive rules in place at signing are stabilized for the IPA term, with the option for investors to waive this stability. Property rights are robustly protected, with a ban on confiscation and expropriation of immovables permitted only for constitutional public purposes, conducted non-discriminatorily, at market value, and with just compensation. Investors to receive significant rights, including the right to produce and market lawful goods, set prices, import and export subject to laws and treaties. For dispute resolution, the IPA mandates amicable negotiations for 60 days upon written notice; if unresolved, disputes are settled through ICC arbitration with a tribunal of three arbitrators who do not share the parties’ nationality unless agreed otherwise. The arbitration seat is New York, USA, governed by Ecuadorian law for merits and procedure, and international investment principles as recognized by Ecuador’s legal order and COPCI.
The La Plata project is at the very last stage of obtaining the environmental license and other permits required by mining and environmental legislation. Once these permits are received, the plan is to begin its construction and operation activities, generating more than 600 direct employment positions and between 1200 to 1800 indirect employment positions in the construction stage and more than 300 direct employment positions and between 600 and 900 indirect employment positions once in commercial production.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTCQX: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the Company’s Annual Information Form (“AIF”) dated September 4, 2024, filed with the Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.com and as available on the Company's website for further details.
