- ATEX Resources ( OTCPK:ECRTF ) said Wednesday it increased its ownership in the Valeriano project in Chile, through an indirect acquisition of the 10% interest in the project's holding company.
- Pursuant to a share purchase agreement dated January 23, 2023, ATEX Valeriano SpA acquired Hochschild's 10% interest in Valleno for a purchase price of $1.2 million.
- In connection with the acquisition, the company also became a 10% owner of the 2% NSR royalty due to Valleno, if ATEX earns 100% in the Valeriano Project.
- Overall royalties reduced on the Valeriano Project due to arm's length parties from 2.5% to 2.3%.
For further details see:
ATEX Resources buys 10% stake in Valeriano owned by Hochschild