ATEX has successfully completed the acquisition of 100% ownership of Valeriano, a Chilean company specializing in the exploration and development of mining properties. This achievement was made possible by fulfilling all the conditions outlined in the option agreement, including the final payment of US$8 million to SCMV, the former joint venture partner. The final payment was satisfied through the issuance of approximately 7.5 million common shares of ATEX to SCMV.
Prior to this acquisition, ATEX held a 49% interest in Valeriano. As part of the agreement, SCMV retains a 2.0% net smelter royalty on the project. The transaction is subject to final approval from the TSXV.
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