Miranda & Amado advised TSX-listed Aurania Resources Ltd. in the sale of 100% of the shares of its Peruvian wholly-owned subsidiary, Sociedad Minera Vicus Exploraciones S.A.C., to Canadian miner Palamina Corp.
Sociedad Minera Vicus Exploraciones S.A.C. holds a total of 94 mining concessions across different regions of the Peruvian territory.
Under the share purchase agreement, Aurania will receive 350,000 common shares of Palamina and a 1% Net Smelter Return (“NSR”) royalty over certain mining claims located in Peru which are held by Vicus. Palamina has the option to buy back half of the NSR for $1,000,000 at any time.
