Morales & Besa advised Fiore Atacama SpA in the acquisition of the rights to develop the El Peñón mining project

September 13, 2017

M&B successfully advised Fiore Atacama SpA in the acquisition of the rights to develop the El Peñón Project, pursuant to the Unilateral Option for the Purchase of Mining Concessions Agreement owned by Sociedad Química y Minera de Chile S.A. (SQM), located in Antofagasta, Antofagasta region. Once those rights were acquired, Fiore Atacama SpA and SQM agreed to extend the term for the exercise of the option until July 12, 2018.

The transaction involved $ 6,207,500 Canadian Dollars, by means of the issuance of 9,550,000 shares of Fiore Exploration Limited in the name of Arena Minerals Chile SpA. The price of the Option Contract contemplated a total amount of $ 3,420,000 of United States Dollars.

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