07:44 AM EDT, 04/05/2024 (MT Newswires) -- Capstone Copper Corp. ( CSCCF ) said Friday that Orion had entered into a block agreement under which it has agreed to sell 62,400,000 CHESS depository interests over the common shares of Capstone in Australia at A$9.50 apiece for A$592.8 million in gross proceeds. The offering is expected to close April 9.

Capstone said it will not receive and proceeds from the offering. The net proceeds of the Secondary Offering will be paid directly to the Selling Shareholders.

The company gained 3.1% yesterday.