Bruchou, Fernández Madero & Lombardi advised Patagonia Gold Corp. and Lotz & Company advised Latin Metals Inc. on the transaction
Latin Metals Inc. has entered into a definitive option agreement with Patagonia Gold Corp. under the terms of which Patagonia are granted an irrevocable option to acquire a 100% interest in the Mina Angela property, located in the Province of Chubut, Argentina.
On execution of the Agreement, Latin Metals received a cash payment of US$200,000 from Patagonia (aggregate US$340,000 to date). The Agreement outlines additional payments of US$750,000, with the next payment of US$250,000 being due on or before March 12, 2021 (Table 1).
Upon the exercise of the Option, Patagonia will be required to grant to Latin Metals a 1.25% net smelter returns royalty (“NSR Royalty”)1 on any future production from the Project.
Bruchou, Fernández Madero & Lombardi advised Patagonia Gold Corp. with Sebastián Vedoya (Picture) and Sergio Arbeleche.
Law Firms: Bruchou, Fernández Madero & Lombardi;
Clients: Patagonia Gold PLC;