Marimaca Copper Corp. (TSX: MARI) is pleased to announce the closing of the previously announced C$20 million equity investment by Mitsubishi Corporation by way of non-brokered private placement. Proceeds from the Strategic Investment will be used to advance and accelerate the development of the Company’s flagship Marimaca Copper Project located in the Antofagasta region, Chile.

Pursuant to the Strategic Investment, Mitsubishi acquired an aggregate of 4,640,371 units consisting of one common share and one Common Share purchase warrant at a price of C$4.31 per Unit. Each Warrant will entitle Mitsubishi to purchase one additional Common Share at an exercise price of C$5.60 for a period of 24 months following closing. As a result of the Strategic Investment, Mitsubishi now owns approximately 5.0% of Marimaca’s issued and outstanding common shares on a non-diluted basis.

Mitsubishi is a major investor in the Latin American copper industry with a portfolio of existing investments including Escondida, Los Pelambres, Antamina, Los Bronces and Quellaveco.

About Marimaca

Marimaca Copper is a Canadian exploration and development company focused on developing the Marimaca Project, an oxide, open-pit, heap leach copper project located in the Antofagasta Region of northern Chile.