Veirano advises on Serra Negra acquisition

Veirano Advogados has advised on the acquisition by Oceana Metals of a 100% interest in the Serra Negra Rare Earths and Niobium Project, located in Brazil, for a total consideration of up to US$10.3 million.

The transaction structure comprises US$2.95 million in cash, 20 million Oceana Metals shares, and up to US$2.25 million in milestone payments, in addition to a 2.5% net smelter royalty.

The deal combines an upfront cash component with an equity element and performance-linked milestone payments, reflecting a structure commonly used in natural resources acquisitions where asset value is tied to future production and development outcomes. The inclusion of a net smelter royalty further aligns the interests of both parties over the long-term life of the project.

Veirano Advogados was Brazilian law adviser to Oceana Metals Limited and relied on partner Julio Antonio Nunes Queiroz (pictured), associates Marcela Traldi and Vinícius Soares Scheid Mascarenhas.

Hamilton Locke LLP was Australian law adviser to Oceana Metals Limited and relied on lawyers Shaun Hardcastle, Lachlan Pethick and Simon Barcham.

RUCR Law was Brazilian law adviser to sellers and relied on lawyers Renato Ribeiro, Henrique Versiani.