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Copper Mountain Announces Pricing of US$250 Million Senior Secured Bond Issue

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Vancouver, British Columbia – March 30, 2021 – Copper Mountain Mining Corporation (TSX: CMMC | ASX: C6C) (“Copper Mountain” or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/copper-mountain-mining-corp/) is pleased to announce that it has successfully priced US$250 million in senior secured bonds in the Nordic bond market (the “Offering”). The five-year bonds will mature in April 2026 and bear interest at 8% per annum. The net proceeds from the Offering will be used for refinancing its existing debt, enabling the Company to access 100% of the excess free cash flow from the mine and fund its internal growth projects at the Copper Mountain Mine as well as the Eva Copper Project.  

Concurrent with the closing of the Offering, which is expected to occur on April 9, 2021, the Company will advance, as a senior secured loan, US$260 million to the subsidiary that holds the Copper Mountain Mine, to retire all its existing indebtedness. As a result, the Company will be entitled to 100% of the cash flow from the Copper Mountain Mine until the US$260 million loan has been repaid. Subsequently, mine cash flow will be distributed on an ownership interest basis with 75% of cash flow to the Company.

“We are pleased to be able to improve the Company’s cash liquidity,” commented Gil Clausen, Copper Mountain’s President and CEO. “Further, we now are able to retire all of our current restrictive debt with no increase in net debt on the consolidated balance sheet of the Company and improve access to cash flow from the Copper Mountain Mine.  This restructuring supports all our organic growth initiatives and provides us flexibility to time those investment decisions at the Company’s discretion.” 

Mr. Clausen commented, “Our expansion plans at the Copper Mountain Mine are expected to be fully funded by cash on hand and free cash flow. Further, this gives us the ability to fund the development of the Eva Copper Project through cash as well as project financing. We have engaged Endeavour Financial to advise and assist in the raising of conventional non-recourse project financing for the development of Eva.  Our plan is to make a construction decision on Eva by the end of 2021.  The Company’s vision is to triple copper production from 2020 production levels within five years and do so in a low risk, financially sound manner.”             

About Copper Mountain Mining Corporation
Copper Mountain’s flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia near the town of Princeton. The Copper Mountain mine currently produces approximately 100 million pounds of copper equivalent.  Copper Mountain also has the development-stage Eva Copper Project in Queensland, Australia and an extensive 2,100 km2 highly prospective land package in the Mount Isa area. Copper Mountain trades on the Toronto Stock Exchange under the symbol “CMMC” and Australian Stock Exchange under the symbol “C6C”.

Additional information is available on the Company’s web page at www.CuMtn.com.

On behalf of the Board of

COPPER MOUNTAIN MINING CORPORATION
“Gil Clausen”
Gil Clausen, P.Eng.
President and Chief Executive Officer
For further information, please contact:
Letitia Wong
Executive Vice President, Strategy and Corporate Development
Telephone: 604-682-2992
Email: [email protected]
Website: www.CuMtn.com

In Europe:
Swiss Resource Capital AG
Jochen Staiger
[email protected]
www.resource-capital.ch

Important Notice
This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company.
This document (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Australia, Canada or Japan or any other jurisdiction. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("Securities Act"), and may not be offered or sold in the United States or to U.S. persons unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available.  No public offering of the securities will be made in the United States of America.
This announcement is an advertisement and does not constitute a prospectus for the purposes of the Prospectus Regulation (EU) 2017/1129 (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Regulation"). In any EEA Member State that has implemented the Prospectus Regulation, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation. In addition, in the United Kingdom, this announcement is not being distributed, nor has it been approved for the purposes of Section 21 of the Financial Services and Markets Act 2000 ("FSMA"), by a person authorized under FSMA and is directed only at persons who (i) are outside the United Kingdom, (ii) are investment professionals falling within Article 19(5) of the U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be engaged with, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "relevant persons"). Under no circumstances should persons who are not relevant persons rely or act upon the contents of this announcement. Any investment or investment activity to which this announcement relates in the United Kingdom is available only to, and will be engaged only with, relevant persons.

Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements include, the anticipated use of the net proceeds from the Offering, and the Company’s intentions regarding its objectives, goals or future plans and statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the successful exploration of the Company’s properties in Canada and Australia, the reliability of the historical data referenced in this press release and risks set out in Copper Mountain’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although Copper Mountain believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, Copper Mountain disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

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