Rio2 Limited. Fenix Gold financing
1. Deal Description
Guerrero Olivos represented Canadian listed mining company, Rio2 Limited, and its related companies (Fenix Gold Limitada and Lince S.A.), in its international project financing of USD135 million to fully fund its Fenix gold mine to production in Chile.
Our corporate, mining, financing and mining areas worked jointly in this relevant transaction. Complexity was to structure the financing in different steps, including a streaming agreement for gold acquisition, a loan and a private placement of Rio2 shares, among others. The transaction was multijurisdictional (Chile and Canada).
Other parties included Wheaton Precious Metals International Ltd., BNP Paribas, Scotiabank, CIBC Capital Markets and Raymond James, Cantor Fitzgerald Canada Corporation, Sprott Capital Partners LP, and Cormark Securities Inc.
2. Counsel list
Counsel to Rio2 Limited and related companies in Chile: Guerrero Olivos
Leading partner: Juan Enrique Allard (corporate and financing)
Partners: Miguel Coddou (financing), Alejandro Chechilnitzky (tax), Benjamín Pérez (mining) and Pedro Lyon (mining).
Associates: Jerónimo Zabala (mining) and María José Morales (mining)
International counsel to Rio2 Limited: DLA Piper Canada
Counsel to the underwriters: Borden Ladner Gervais LLP Canada
3. Date of closing
10/08/2021. Closing date of the financings first stage
4. Deal Value
USD135,000,000
5. Jurisdictions involved
Canada and Chile