div class="entry-content" itemprop="articleBody">
BUCHAREST, Romania & TORONTO--(BUSINESS WIRE)--Roman Copper Corp., is pleased to provide the following information on
the acquisition of Cupru Min S.A (Abrud) under Romania???s privatization
program:
1. As previously disclosed, Roman Copper???s team and the Romanian
government???s negotiators agreed on the terms and conditions of the
acquisition contract in the late evening of Friday, April 6 2012. These
terms included an undertaking by Roman Copper to accept additional
financial and other obligations that were not required in the original
tender documentation.
2. Mr. Lucian Bode, Romania???s Minister of Economy, reportedly suggested
the same evening that Roman Copper was unwilling to accept the
government???s new conditions. These reports appear to have created some
confusion in the media and elsewhere.
3. Roman Copper unequivocally confirms its readiness to implement all
the actions and investments requested by the government since the open
auction for Cupru Min on March 26, 2012. The auction is widely
acknowledged to have been the most transparent in the history of the
privatization program.
We have committed a considerable amount of effort and expense to ensure
that Roman Copper???s stewardship of Cupru Min and the world-class Rosia
Poieni mine will provide the maximum possible benefits to Romania???s
copper mining industry, local communities and the national economy. We
are fully aware of the importance of this transaction to all concerned,
including the future well-being of Romania???s mining sector and the
credibility of the Romanian government???s privatization process.
4. We will provide further details in coming days of our plans for Cupru
Min. We are confident that these plans will demonstrate our commitment
to the acquisition and our determination to comply with the highest
international standards set by the International Monetary Fund and the
European Union, and agreed to by the Romanian government.
5. We look forward to continuing our relationship with the Romanian
authorities in a spirit of good faith and co-operation so that this
transaction can be completed as envisaged under the competitive and
transparent privatization process.
6. We remain grateful for the professionalism and integrity of the
Romanian and Canadian negotiating teams, including Mararu and Mararu,
our Romanian counsel. We will continue to provide updates on
developments as they transpire.