Xiana Mining Inc. completed the acquisition of Minera Altos De Punitaqui from Glencore Plc.
Xiana entered into a deed of amendment with Glencore on October 24, 2018 regarding the transaction. Pursuant to the amendment, Xiana will pay $2.5 upon closing, $2.5 million on the first anniversary of the date of closing, $10 million on the second anniversary of closing and remaining $10 million on third anniversary of closing. The closing date is extended till October 30, 2018. Rita Adiani of NRG Capital Partners acted as financial advisor, Fasken Martineau LLP and Baker Mackenzie acted as legal advisor in relation to the acquisition while McCarthy Tetrault LLP acted as legal advisor in relation to the financing to Xiana.
Xiana Mining Inc. (TSXV:XIA) (Xiana') completed the acquisition of Minera Altos De Punitaqui (MAP') from Glencore plc (LSE:GLEN) on November 13, 2018. Concurrently, Xiana completed its previously announced concurrent financing, proceeds from which were used, among other things, for the acquisition. Pursuant to the transaction, Jaime Guzman was appointed as General Manager of Xiana Chile SPA, the holding company of MAP.