Quito, Ecuador – July 15, 2024 – Tobar ZVS, one of Ecuador’s premier corporate law firms, is proud to announce its role as the Ecuadorian counsel for SolGold Plc in a landmark transaction. The firm successfully advised SolGold in securing a syndicated stream financing agreement for the provision of USD $750 million for project advancement. This substantial contribution will support the next phase of development for the Cascabel Project, one of the world's largest copper-gold discoveries and the most significant large-scale mining project in Ecuador to date.
Tobar ZVS's involvement in this significant transaction underscores its commitment to providing top-tier legal services in Ecuador's evolving corporate landscape. Representing SolGold's interests in Ecuador since 2013, Tobar ZVS played a pivotal role in negotiating the main transaction documents, in collaboration with SolGold's Canadian counsel, and led the structuring of the security package.
Mr. Bernardo Tobar, managing partner at Tobar ZVS and leader of the firm’s transaction team, commented, "We are very happy for the successful negotiation and closing of the $750 million stream agreement, which once again proved the breadth and depth of the firm's capabilities. I am also very proud of the outstanding team of professionals at the firm that assisted in this transaction. This was a highly complex project requiring a multidisciplinary approach and the enegagement of experienced professionals from various firm’s practice divisions, including corporate, finance, mining, regulatory, and tax advisory. I am very grateful for the continued trust of our client, SolGold Plc., and for being a partner in the advancement of the Cascabel Project, which will bring about significant social and economic improvement for Ecuador."
Mr. Scott Cadwell, CEO of SolGold Plc commented, "Partnering with Tobar ZVS has been instrumental to SolGold's success. The legal expertise and strategic counsel provided by Cesar, Bernardo, and the entire Tobar ZVS team have consistently given us the support needed to navigate complex regulations and agreements. Tobar ZVS' dedication and proactive approach are invaluable, and we look forward to continuing this successful partnership long into the future."
The Cascabel Project, located in the northern region of Ecuador, has garnered international attention due to its vast copper and gold reserves. The project's successful development is expected to have a transformative impact on the Ecuadorian economy, creating numerous job opportunities, and boosting community development and general business growth.
The successful closing of this financing agreement is a testament to Tobar ZVS’s proficiency in corporate law in general and project finance in particular, and its ability to facilitate large-scale, complex cross-border transactions. The firm remains committed to offering comprehensive legal solutions that meet the needs of its corporate clients and contribute to Ecuador’s economic progress.
For more information about Tobar ZVS, please visit www.tzvs.ec
Contact information:
Bernardo Tobar
Managing partner
Irene Almeida
Marketing