Denham Capital Management LP (“Denham Capital”) announces the transfer of 4,911,268 common shares (the “Common Shares”) in the capital of Camino Minerals Corporation (“Camino”) and 555,556 purchase warrants exercisable to acquire Common Shares (the “Warrants” and together with the Common Shares, the “Securities”) from its controlled affiliate, Stellar Investment Holdings LLC (“Stellar”) to another of its controlled affiliates, Santiago Metals II Upper Holdco LLC (“Santiago Metals”), pursuant to the terms and conditions of a share purchase agreement entered into between Stellar and Santiago (the “Transfer”). This press release is being issued in connection with the filing of an early warning report (the "Early Warning Report") pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues regarding the Transfer.
Each of Santiago Metals and Stellar are owned by funds advised by Denham Capital. The Transfer took place in order to advance the commercial interests of Santiago Metals and Stellar. To effect the Transfer, Santiago Metals purchased the Securities from Stellar for a price of approximately C$0.48 per Common Share and approximately C$0.052 per Warrant, for an aggregate purchase price of approximately C$2,379,720.00. The purchase price was paid in United States dollars and the Canadian figures reflected above have been adjusted based on the daily exchange rate published by the Bank of Canada on March 30, 2026 of US$1.00 to C$1.3926.
The Transfer did not impact Denham Capital’s ultimate ownership interest in Camino. Prior to the Transfer, Denham Capital, through Santiago Metals and Stellar, owned or controlled an aggregate of 36,458,887 Common Shares and 555,556 Warrants, and immediately following the Transfer, Denham Capital continues to hold, through Santiago Metals, 36,458,887 Common Shares and 555,556 Warrants, in each case, representing approximately 40.8% of the issued and outstanding Common Shares on a non-diluted basis. Assuming the exercise of all of the Warrants owned and controlled by Denham Capital through Santiago Metals, an aggregate of 37,014,443 Common Shares would be owned and controlled by Denham Capital, through Santiago Metals, representing approximately 41.2% of Camino’s issued and outstanding Common Shares.
Denham Capital may, from time to time, acquire additional securities of Camino, dispose of some or all of the securities of Camino that it holds or may continue to hold the Common Shares.
Camino’s address is located at Suite 1780, 555 West Hastings Street, Vancouver, British Columbia V6B 4N6.
Denham Capital is a Delaware limited partnership formed for the purpose of making private equity investments and its head office is located at 185 Dartmouth Street – 7th Floor, Boston, Massachusetts, United States 02116. Santiago Metals is a Cayman Islands limited liability company and its registered office is located at 121 South Church Street, Ugland House, Grand Cayman, KY1-1104, Cayman Islands.
The Early Warning Report will be filed by Denham Capital on SEDAR+ in accordance with applicable Canadian securities laws. To obtain a copy of the Early Warning Report, please contact Debbie Moon by email at DenhamIR@denhamcapital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260401298559/en/
Debbie Moon
DenhamIR@denhamcapital.com
