Pampa Metals to Acquire Rugby Resources in Strategic Move

Pampa Metals Corp. and Rugby Resources Ltd. have announced a binding agreement for Pampa Metals to acquire all shares of Rugby Resources. The acquisition aims to position Pampa as a leading copper explorer in South America with significant projects in Argentina and Colombia, highlighting the Piuquenes copper-gold project and Cobrasco copper-moly project.

The transaction involves issuing approximately 49.5 million shares of Pampa in exchange for Rugby shares, resulting in Rugby shareholders holding about 38% of Pampa. A key strategic focus is rapid development of existing projects, leveraging synergies from a multi-asset approach.

The deal is part of Pampa’s intention to list on both the ASX and TSX Venture Exchange, aiming for substantial shareholder value. The acquisition is subject to regulatory and shareholder approvals, with a 45-day exclusivity agreement for a definitive agreement.