Ecora Resources Ltd. Royalty Acquisition
1. Deal Description
Guerrero Olivos advised Ecora Resources Ltd., a British company, in the acquisition of a royalty in the Vizcachitas mine owned by Los Andes Copper.
This transaction was valued at USD 20 million, and multiple teams were involved in the legal due diligence, review of certain aspects of contracts governed mostly by Canadian law, and preparation of mining concession mortgage contracts.
The transaction presented various complexities and challenges, particularly concerning the size of the asset, the tight timelines imposed by the parties to close the deal, and the adaptation of certain conditions from foreign contracts to local agreements.
2. Counsel list
Local counsel to Ecora: Guerrero Olivos
o Partners; Marco Zavala, Clemente Pérez and Benjamín Pérez
o Associates: Antonia Melelli, Juan Pablo Ossa, Vicente Palma, Matías Gompertz, Sebastián Mozó and Benjamín Sims
International counsel to Ecora: Mccarthy
International counsel to LAC: Stikeman & Elliot
Local counsel to LAC: Prieto and Ossa Alessandri
3. Date of closing
28/07/2023
4. Deal Value
USD20 million
5. Jurisdictions Involved
Chile and Canada