This news release constitutes a "designated news release" for the purposes of Marimaca Copper's prospectus supplement dated May 22, 2024 to its (final) short form base shelf prospectus dated September 12, 2023. VANCOUVER, British Columbia, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. ("Marimaca Copper", "Marimaca" or the "Company") (TSX:MARI) is pleased to announce the closing of the previously announced C$25,762,500 strategic equity investment by Assore International Holdings Limited ("AIH") (the "AIH Investment") and the concurrent C$4,500,000 equity investment by an additional investor (the "Additional Private Placement" and together with the AIH Investment, the "Private Placements"). Pursuant to the Private Placements, AIH acquired an aggregate 5,725,000 units ("Units") of the Company consisting of one common share of Marimaca (each, a "Common Share") and one half of one Common Share purchase warrant (each whole Common Share purchase warrant a "Warrant") at a price of C$4.50 per Unit. The additional investor acquired an aggregate 1,000,000 Units at a price of C$4.50 per Unit. Each Warrant will entitle AIH and the additional investor to purchase one additional Common Share at an exercise price of C$5.85 for a period of 18 months following the closing of the AIH Investment or the Additional Private Placement, as applicable. The Company also announces the closing of the previously announced acquisition of 9,417,210 Common Shares by AIH from an affiliate of Tembo Capital Mining GP Limited, Ndovu Capital XIV B.V. (collectively, "Tembo Capital") (the "Tembo Acquisition"), at a price of C$4.50 per Common Share for gross proceeds to Tembo ...