Aris Mining Holdings Corp. entered into a binding agreement to acquire Soto Norte Gold project from AUX Colombia Ltda. for approximately $90 million.

Aris Mining Corporation (TSX:ARIS) entered into a binding agreement to acquire Soto Norte Gold project from AUX Colombia Ltda. for approximately $90 million on May 23, 2024. On closing, Aris Mining will issue 15,750,000 common shares to AUX Colombia Ltda.

These shares will be subject to a 12-month hold period, inclusive of a four-month statutory hold period and an additional eight-month contractual restriction on transfer. Following receipt of an environmental license to develop AUX Colombia Ltda, Aris Mining will issue an additional 6,000,000 common shares to AUX Colombia Ltda. Closing of the transaction is expected to occur in June 2024 following satisfaction of customary closing conditions, including execution of definitive documentation related to the issuance of the shares and approval of the Toronto Stock Exchange and the NYSE American.