|By Marketwired .||
|August 8, 2013 04:26 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/08/13 -- Atico Mining Corporation ("Atico" or the "Company") (TSX VENTURE:ATY)(PINKSHEETS:ATCMF) advises that it has received notice of a potential claim and demand for compensation arising from activities that occurred prior to the Company's initial public offering. Carl Nelson and Recursos del Caribe SA, the company through which Carl Nelson conducts his geological consulting business, (together, "Mr. Nelson") provided pre-IPO consulting services to the Company in connection with its El Roble project in Colombia and participated in pre-IPO financings undertaken by the Company.
Mr. Nelson makes several allegations including: alleging a key role in recognizing the mineral potential of the El Roble project, including acting as a founder of Atico; alleging oppressive and unfair treatment related to the issuance of shares, benefits and his exclusion from the management of Atico; claiming payment of a finder's fee of approximately $436,000 in connection with the El Roble project; seeking the right to purchase additional shares of Atico at a pre-IPO subscription price to equate his share position with that of the founders of Atico; and claiming other damages in addition to the amounts already paid to him for his geological consulting services.
The Company has not been served with a notice commencing legal action in this matter, but if such an action is commenced the Company will vigorously defend itself.
About Atico Mining Corporation
Atico is a growth oriented, copper and gold exploration and development company focused on mining opportunities in Latin America. The company's primary property is the El Roble project. The company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza, CEO, Atico Mining Corporation
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.