Invecture Group, S.A. de C.V.

Invecture Group, S.A. de C.V.
Frontera Copper Corporation

Frontera Copper Corporation

March 17, 2009 18:40 ET

Invecture Announces Expiry of Bid and Take Up of Shares of Frontera Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2009) - Bryan Nethery, CEO of Frontera Copper Corporation (TSX:FCC)(TSX:FCC.NT)(TSX:FCC.NT.A) ("Frontera") and John Detmold, CEO of 0839073 B.C. Ltd. a wholly owned subsidiary of Invecture Group, S.A. de C.V. (collectively, the "Offeror"), and controlling shareholder of Frontera, today jointly announced that since March 4, 2009 an additional 2,915,336 common shares of Frontera (the "Common Shares") have been validly deposited to the offer (the "Offer") made by the Offeror to acquire all of the outstanding Common Shares of Frontera.

The Offeror will take up all Common Shares deposited. On completion of this take-up, the Offeror and its affiliates will hold 61,162,125 Common Shares, representing 94.8% of the total outstanding Common Shares, and 93.8% of the Common Shares excluding Common Shares held by the Offeror and its affiliates before the commencement of the Offer.

The Offer will not be extended. The Offeror intends to pursue a compulsory acquisition pursuant to its statutory rights under the Canada Business Corporations Act to acquire the remaining outstanding Common Shares of Frontera. Upon completion of such compulsory acquisition, Frontera intends to apply to de-list the Common Shares of Frontera from the Toronto Stock Exchange.

The Offeror first announced the Offer on December 3, 2008. Pursuant to the Offer (as amended and varied), the Offeror offered to purchase for cash all of the outstanding Common Shares of Frontera at a price of $0.75 per share.

Cautionary Statement on Forward Looking Information

This news release contains statements which constitute forward looking information. These statements are forward looking because we have made a statement about what we expect or intend to do in the future. Forward looking statements usually include words such as may, expect, anticipate, intend and believe or similar words. Forward looking statements are necessarily based upon a number of assumptions that, while considered reasonable as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The assumptions relied upon in making the forward looking statements in this news release, which may prove to be incorrect, include, but are not limited to, the various assumptions made by the Offeror in the take over bid circular prepared and filed by the Offeror in accordance with applicable securities laws in Canada as well as the ability of the Offeror to effect the compulsory acquisition and to de-list the common shares of Frontera from the Toronto Stock Exchange. The forward looking information is subject to various risks and other factors which could cause actual results to differ materially from the expressed or implied forward looking information. You should not place undue reliance on forward-looking information.

Contact Information

  • Invecture Group, S.A. de C.V.
    John Detmold
    Chief Executive Officer
    + 52-55-5520-6003
    Frontera Copper Corporation
    Bryan Nethery
    Chief Executive Officer