ATEX Valeriano SpA acquired 10% stake in Sociedad Contractual Minera Valleno from Hochschild Mining plc (LSE:HOC) for $1.15 million on January 23, 2023. In connection with this acquisition, ATEX Resourcesalso becomes a 10% owner of the 2% NSR royalty due to Valleno if ATEX earns 100% in the Valeriano Project, thereby reducing the overall royalties on the Valeriano Project due to arm's length parties from 2.5% to 2.3%. All parties agreed to the terms of the Valleno shareholders agreement, including existing shareholders waiving their right of first refusal in respect of such acquisition. ATEX now has the right to appoint a member to the Valleno board and participate as a shareholder of Valleno
ATEX Valeriano SpA completed the acquisition of 10% stake in Sociedad Contractual Minera Valleno from Hochschild Mining plc (LSE:HOC) on January 23, 2023.