Denham Commodity Partners Fund VI LP Announces Acquisition of Securities of Camino Minerals Cororation

BOSTON, July 14, 2021 /CNW/ - Denham Commodity Partners Fund VI LP ("Denham") reports that on July 13, 2021, it acquired, through its controlled affiliate Stellar Investment Holdings LLC ("Stellar"), indirect ownership and control of 23,193,098 common shares (each, a "Camino Share") in the capital of Camino Minerals Corporation ("Camino") and 2,941,176 units of Camino (the "Camino Units" and, together with the Camino Shares, the "Camino Securities") by way of private agreements entered into between Stellar and Camino. Each Camino Unit is comprised of one Camino Share and one-half of one common share purchase warrant (each whole warrant, a "Camino Warrant") of Camino exercisable at $0.25 for two years. Denham acquired the Camino Securities through its controlled affiliate Stellar by way of: (i) the issuance by Camino of the 23,193,098 Camino Shares to Stellar in consideration for the sale by Stellar of all of the issued and outstanding shares of Minera Maria Cecilia Ltd. to Camino; and (ii) the subscription by Stellar for 2,941,176 Camino Units for an aggregate purchase price of $499,999.92.

As previously disclosed by Camino on May 3, 2021, as a result of a financing completed by Camino prior to the closing of the acquisition of the Camino Securities by Denham, pursuant to the terms of a side letter entered into between Stellar and Camino, Stellar's subscription was changed from a subscription to purchase 2,272,727 Camino Shares for an aggregate purchase price of $499,999.94 to a subscription to purchase 2,941,176 Camino Units for an aggregate purchase price of $499,999.92. As a result, Denham ultimately acquired, through Stellar, 26,134,274 Camino Shares and 1,470,588 Camino Warrants, instead of 25,465,825 Camino Shares (as disclosed by Denham in its early warning report dated March 31, 2021).

Prior to the issuance of the Camino Securities, Denham did not own or control any Camino Shares or Camino Warrants. Immediately following the issuance of the Camino Securities, Denham, through Stellar, owns and controls a total of 26,134,274 Camino Shares, representing approximately 15.1% of the issued and outstanding Camino Shares, and 1,470,588 Camino Warrants, representing approximately 6.2% of the issued and outstanding Camino Warrants. Assuming the exercise of all of the Camino Warrants owned and controlled by Denham, through Stellar, an aggregate of 27,604,862 Camino Shares would be owned and controlled by Denham, through Stellar, representing approximately 15.8% of Camino's issued and outstanding common shares.

The Camino Securities were acquired for investment purposes. Denham may, from time to time, acquire additional securities, dispose of some or all of the securities of Camino that it holds or may continue to hold the Camino Securities. Denham intends to exercise its right to nominate a member to the Camino board of directors, which right was granted to it in connection with its acquisition of the Camino Securities.

Camino's head office is located at Suite 300, 250 Southridge, Edmonton, Alberta, T6H 4M9.

To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Camino's profile on the SEDAR website www.sedar.com.

About Denham and Stellar

Denham Commodity Partners Fund VI LP is a Delaware limited partnership formed for the purpose of making private equity investments. Stellar Investment Holdings LLC is a Delaware limited liability company formed for the purpose of holding investments.

SOURCE Denham Commodity Partners Fund VI LP

For further information and to obtain a copy of the early warning report, please contact: Denham Capital Management LP, 85 Dartmouth Street - 7th Floor, Boston, MA, 02116 USA, Telephone: [phone], Attn: Legal Department