Aris Gold Corporation (“Aris Gold”) (TSX: ARIS) (OTCQX: ALLXF) announced it entered into a definitive agreement with MDC Industry Holding Company LLC (Mubadala), a wholly owned subsidiary of the Abu Dhabi based investment company Mubadala Investment Company PJSC, whereby Aris Gold acquired a 20% joint venture interest in the Soto Norte gold project in Colombia, with the option to acquire a further 30% interest (the Transaction).
On closing Aris Gold and Mubadala will enter into a comprehensive joint venture agreement to govern the joint venture company through which environmental licensing, project development and construction, and mine operation of Soto Norte will be undertaken. Aris Gold will be the project operator, and the joint venture partners will share project costs on a pro-rata ownership basis.
Aris Gold has also upsized the existing precious metals stream at the 100%-owned Marmato Mine by $65 million and arranged a $35 million debenture (the Debenture) that is convertible into common shares of Aris Gold at a conversion price of US$1.75 (approximately C$2.21).
Fasken represented Aris Gold with a team led by Georald Ingborg and Andrew Gabrielson, and included Perry Feldman (Corporate/Commercial), Jason Giborski, Aman Marwaha, Blaine Bowman, Claudia Honetschlaeger (Corporate Finance & Securities), and Michael Coburn (Tax).
Jurisdictions
- British Columbia
- Spain
- Colombia
