M&B advised Fiore Andes SpA in Option for Purchase of Mining Concessions

May 30, 2017

Morales & Besa successfully advised Fiore Andes SpA in the execution of the Unilateral Option for the Purchase of Mining Concessions Agreement owned by the Río Loa mining companies, located in county of Diego de Almagro, Atacama region.

The deal was executed on April 12th and its value was USD 1,015,000 as price for the mining concessions plus a royalty equivalent to 2% of the Net Smelter Return.

The importance of this transaction is that Fiore Andes SpA may, after carrying out several explorations and drilling tasks in the mining concessions, opt for the purchase of the mentioned concessions, having a term of 48 months to exercise the option, in the form and terms indicated in the agreement. In addition, a title review of the mining concessions was carried out in order to verify the feasibility of the transaction.

The Morales & Besa team that participated in the transaction was composed by partner Eugenio Besa and associates Lorena Barrientos and Katannya Jablonski.