M&A counsels Empress Royalty on metals deal for $10m
Miranda & Amado has advised the Canadian company Empress Royalty on the sale and purchase of metals in conjunction with the Sierra Antapite mining company for USD 10 million
Miranda & Amado has counselled the Canadian company Empress Royalty in the negotiation, execution and closing of a metal purchase agreement for the export of future gold production for $10 million US dollars, in conjunction with the mining company Sierra Antapite S.A.C., owner of the Antapite mine and plant in Huancavelica, Peru.
This transaction was closed on 28 July 2021, with the initial contract payment due on 30 July 2021. The purchase and sale agreement is subject to the laws of British Columbia, Canada, and the security structure, which consists of the modification of existing trust agreements over the principal assets and certain cash flows of Sierra Antapite, is governed by Peruvian law.
Canadian firm Stikeman Elliott also acted as advisor to Empress Royalty, while Estudio Echecopar, associated with Baker & McKenzie in Peru, and Baker & McKenzie in Canada were advisors to Sierra Antapite.
Empress Royalty Corp. is a new precious metals royalty company with a portfolio of 16 royalties. It is dedicated to the creation of royalty and streaming agreements on mining projects in the development to production stage. Although focused on precious metals, it plans to access projects worldwide. Of the current portfolio, the most advanced royalty is a 1% net smelter return (NSR) on the Pinos gold-silver project in Zacatecas, Mexico.
M&A’s team was led by partner Alberto Delgado (pictured right), assisted by associates Lisbeth Benavides (pictured top center) and Cynthia Rebaza (pictured bottom center), along with tax partner Pablo Sotomayor (pictured top left) and tax associate Luis Miguel Sánchez (pictured bottom left).
Stikeman Elliot’s team was comprised of partners Justin Parappally and Neville McClure, together with associate Dalton Turner.
Estudio Echecopar’s team consisted of partner Ina Drago, and associate Jorge Liendo.
Finally, partner Greg McNab led Baker & McKenzie’s Canadian team.
