Next Meridian is proud to announce our participation as lead advisor in a financing transaction


TORONTO, Dec. 10, 2019 (GLOBE NEWSWIRE) -- Sprott Resource Holdings Inc. (“SRHI” or the “Company”) (TSX: SRHI) today announced that it has signed the previously announced secured prepayment facility (“Facility”) and offtake agreement (“Offtake”) to be provided to Minera Tres Valles (“MTV”) by Anglo American Marketing Limited (“AAML”) and a fund under the investment management of Kimura Capital LLP (“Kimura” and together with AAML, the “Lenders”) to be utilized for the expansion of the MTV copper project located in Chile.


Financial close and receipt of funds is expected within the next two weeks subject to customary documentation, perfection of security and other conditions.


Key Terms of the Facility and Offtake


  • US$45 million in principal with a 12 month availability period
  • Term of 4 years
  • Interest rate of 3-month USD LIBOR plus:
    - 8.00% per annum for up to 12 months depending on certain conditions
    - 6.25% per annum thereafter
  • Repayable in 12 equal quarterly installments commencing following a 12-month grace period
  • Early repayment flexibility
  • Copper price participation mechanism if LME cash price monthly average is above US$6,600/mt
  • The Lenders will have offtake rights to purchase up to 100% of copper cathode production at MTV with 25% at a fixed price for a 2 year term when the average 2 year forward price of copper reaches US$6,300/mt


The Facility will, in part, be used to repay MTV’s US$20 million existing debt with Kimura.


Next Meridian LLC and Three Keys Capital Advisors LLC acted as financial advisors to MTV in connection with the Facility and the Offtake.





Next Meridian is proud to announce our participation as lead advisor in a sale transaction


TORONTO, Aug. 22, 2017 (GLOBE NEWSWIRE) -- Sprott Resource Holdings Inc.

(“SRHI” or the “Corporation”) (TSX:SRHI) today announced that it has entered

into a definitive agreement to acquire 70% of the outstanding equity of S.C.

Minera Tres Valles (“MTV”) from the Vecchiola Group for an aggregate purchase

price of US$39.9 million, consisting of US$33.5 million in cash and US$6.4

million in SRHI common shares. The transaction is expected to close during the

fourth quarter of fiscal 2017 and is subject to the satisfaction of certain

customary closing conditions, including receipt of the approval of the Toronto

Stock Exchange.


Transaction Highlights:


o MTV owns 100% of the currently producing Minera Tres Valles copper mining

and refining complex located in Salamanca, Chile.

o Historical JORC-compliant Measured and Indicated Resources of 40.7 million

metric tonnes of ore at 0.81% Cu using a cut-off grade of 0.2% Cu

completed by Snowden Mining Industry Consultants ("Snowden") in May 2013.

A qualified person has not done sufficient work to classify these

historical estimates as current mineral resources or mineral reserves and

SRHI is not treating this historical estimate as current mineral

resources. See “Historical Estimates” below.

o Experienced partner in the Vecchiola Group, a premier Chilean mining

services and construction company.

o Experienced management team responsible for re-tooling operations,

designing and implementing a strategic growth plan.

o Chile has one of the world’s most stable mining regimes, is a premiere

destination for mining investment and is the world’s top copper producing


o Extensive land package with exploration potential.

o Strong community support through charitable foundation and formalization

of small-scale miners.


“We are excited to announce this investment in MTV," said Steve Yuzpe, CEO of

SRHI. “We are very bullish on copper and acquiring a majority stake in a

producing asset located in a stable, investor-friendly mining jurisdiction

like Chile is completely in line with our strategy."


"The Vecchiola Group will be tremendous partners on this project and the MTV

management team are experienced operators with the ability to effectively

execute on our development plan," added Mr. Yuzpe.


MTV has begun preparing a NI 43-101 compliant technical report that will

provide a summary of its mineral resources and mineral reserves and describe

the development plan designed to grow production to reach and exceed the

nameplate capacity of the current solvent-extraction and electrowinning



“Vecchiola Group is pleased to partner with such an experienced mining

investor as SRHI to bring MTV to its full operating potential,” said Guido

Vecchiola, eldest of the Vecchiola brothers, who speaks in representation of

his brothers.


“We look forward to working with the team at SRHI to continue the development

of MTV and execute on our growth plan,” said MTV CEO, Luis Vega.


“After evaluating more than 70 investment opportunities, we concluded that MTV

offered the greatest potential to create immediate value for our

shareholders,” concluded Mr. Yuzpe. “After giving effect to this transaction,

we still have approximately $35 million in cash available to deploy towards

other accretive investments, while also continuing to monetize non-core



Bofill Mir & Álvarez Jana acted as legal counsel to SRHI. Next Meridian LLC

and Three Keys Capital Advisors LLC acted as financial advisors to Vecchiola

Group and Nassar, Delgado & Fainé Abogados acted as legal counsel.