Cascadero Copper to sell subsidiary for up to $19 million

Cascadero Copper Corporation (TSXV:CCD) has agreed to sell its subsidiary, Cascadero Minerals Corporation, to Lumina Copper Corp., an affiliate of First Quantum Minerals Ltd. The deal involves the transfer of all shares in Cascadero Minerals Corporation, which is currently 70% owned by Cascadero and 30% by director Nelson Borch.

The total consideration for the transaction is $19 million, consisting of $15 million in cash payable at closing, with up to $4 million in deferred payments contingent on specific events related to the Taca Taca project. Lumina Copper Corp. has secured voting agreements from shareholders holding approximately 47.9% of the outstanding common shares, who have agreed to vote in favor of the transaction.

The deal requires approval from at least 66⅔% of Cascadero's shareholders at a special meeting. Upon completion, Cascadero Copper will concentrate on its Taron Cesium project in Argentina.

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