CRCC-Tongguan Investment Co. to Acquire Corriente Resources for C$679 Million

Vancouver-based Corriente Resources Inc. announced that it signed a definitive agreement with CRCC-Tongguan Investment Co., Ltd. (the offeror), Tongling Nonferrous Metals Group Holdings Co., Ltd. and China Railway Construction Corporation Limited, under which the Offeror has agreed to make an offer to acquire all of the company’s outstanding shares for C$8.60 per share in cash. The Offeror is jointly owned by Tongling and CRCC. The offer values Corriente at approximately C$679 million. CRCC-Tongguan Investment Co., Ltd. is owned jointly by Tongling Nonferrous Metals Group Holdings Co., Ltd. and China Railway Construction Corporation Limited. Corriente Resources Inc. is a copper and copper/gold development and exploration company moving towards initial production. Corriente controls a 100% interest in approximately 62,000 hectares located within the Corriente Copper Belt in southeast Equador.