ARIS MINING ANNOUNCES SALE OF JUBY GOLD PROJECT TO MCFARLANE LAKE MINING
Aris Mining (NYSE-A: ARMN) has announced the sale of its Juby Gold Project in Ontario, Canada to McFarlane Lake Mining (CSE: MLM) for a total consideration of US$22 million. The transaction includes Aris Mining's 100% interest in Juby and 25% joint venture interest in the adjacent Knight property.
The deal structure comprises US$10 million in cash payable at closing, McFarlane common shares up to 19.9% of post-financing share capital, and potential additional payment within 12 months to reach the total purchase price. The transaction's completion is contingent on McFarlane raising minimum US$10 million in financing and is expected to close within 90 days.
Aris Mining (NYSE-A: ARMN) ha annunciato la vendita del suo Juby Gold Project in Ontario, Canada, a McFarlane Lake Mining (CSE: MLM) per un corrispettivo totale di 22 milioni di dollari USA. L'operazione include il 100% degli interessi di Aris Mining su Juby e il 25% di partecipazione in joint venture sulla proprietà adiacente Knight.
La struttura dell'accordo prevede un pagamento in contanti di 10 milioni di dollari USA alla chiusura, azioni ordinarie di McFarlane fino al 19,9% del capitale post-finanziamento, e un possibile pagamento aggiuntivo entro 12 mesi per raggiungere il prezzo totale di acquisto. Il completamento della transazione è subordinato alla raccolta da parte di McFarlane di almeno 10 milioni di dollari USA in finanziamenti ed è previsto entro 90 giorni.
Aris Mining (NYSE-A: ARMN) ha anunciado la venta de su Proyecto de Oro Juby en Ontario, Canadá, a McFarlane Lake Mining (CSE: MLM) por un importe total de 22 millones de dólares estadounidenses. La transacción incluye el 100% de interés de Aris Mining en Juby y un 25% de participación en la empresa conjunta en la propiedad adyacente Knight.
La estructura del acuerdo comprende 10 millones de dólares en efectivo pagaderos al cierre, acciones ordinarias de McFarlane hasta el 19,9% del capital social post-financiación, y un posible pago adicional dentro de 12 meses para alcanzar el precio total de compra. La finalización de la transacción depende de que McFarlane recaude un mínimo de 10 millones de dólares en financiamiento y se espera que se cierre en un plazo de 90 días.
Aris Mining (NYSE-A: ARMN)은 캐나다 온타리오에 위치한 Juby Gold Project를 McFarlane Lake Mining (CSE: MLM)에 총 2,200만 미국 달러에 매각했다고 발표했습니다. 이번 거래에는 Aris Mining의 Juby 100% 지분과 인접한 Knight 광산의 25% 합작 투자 지분이 포함됩니다.
거래 구조는 클로징 시 지급되는 1,000만 미국 달러 현금, McFarlane의 금융 후 자본의 최대 19.9%에 해당하는 보통주, 그리고 총 매매가를 달성하기 위한 12개월 내 추가 지급 가능성을 포함합니다. 거래 완료는 McFarlane이 최소 1,000만 미국 달러의 자금을 조달하는 것에 달려 있으며, 90일 이내에 종료될 예정입니다.
Aris Mining (NYSE-A : ARMN) a annoncé la vente de son projet aurifère Juby en Ontario, Canada, à McFarlane Lake Mining (CSE : MLM) pour un montant total de 22 millions de dollars US. La transaction comprend l’intégralité des intérêts d’Aris Mining dans Juby ainsi que 25 % des intérêts en coentreprise dans la propriété adjacente Knight.
La structure de l’accord prévoit 10 millions de dollars US en espèces payables à la clôture, des actions ordinaires de McFarlane représentant jusqu’à 19,9 % du capital après financement, ainsi qu’un paiement supplémentaire potentiel dans les 12 mois pour atteindre le prix d’achat total. La finalisation de la transaction est conditionnée à la levée d’un minimum de 10 millions de dollars US par McFarlane et devrait être conclue dans un délai de 90 jours.
Aris Mining (NYSE-A: ARMN) hat den Verkauf seines Juby Gold Projekts in Ontario, Kanada, an McFarlane Lake Mining (CSE: MLM) für eine Gesamtsumme von 22 Millionen US-Dollar bekannt gegeben. Die Transaktion umfasst Aris Minings 100% Anteil an Juby sowie einen 25% Joint-Venture-Anteil an der angrenzenden Knight-Liegenschaft.
Die Struktur des Deals beinhaltet 10 Millionen US-Dollar in bar, zahlbar bei Abschluss, McFarlane-Stammaktien bis zu 19,9 % des Kapitals nach der Finanzierung und eine mögliche zusätzliche Zahlung innerhalb von 12 Monaten, um den Gesamtpreis zu erreichen. Der Abschluss der Transaktion hängt davon ab, dass McFarlane mindestens 10 Millionen US-Dollar an Finanzierung aufbringt, und wird voraussichtlich innerhalb von 90 Tagen erfolgen.
- Total consideration of US$22 million for non-core asset sale
- Immediate cash injection of US$10 million upon closing
- Strategic equity position of up to 19.9% in McFarlane
- First-ranking security interest maintained until full payment
- Transaction completion dependent on McFarlane raising US$10 million
- Potential delay in receiving full consideration with 12-month payment window
- Divestment of potentially valuable exploration asset
Insights
Aris Mining's $22M sale of non-core Juby asset strengthens balance sheet and aligns with Latin American focus.
Aris Mining's
This asset sale accomplishes several strategic objectives for Aris Mining. First, it monetizes a non-core exploration asset while maintaining potential upside through equity participation in McFarlane. Second, the immediate cash component bolsters Aris Mining's balance sheet without dilution. Third, the deal includes prudent protections with Aris maintaining a first-ranking security interest over the property until full payment.
For context, the Juby Gold Project is located in Ontario's Abitibi greenstone belt, a prolific gold-producing region, but represents a geographical outlier in Aris Mining's portfolio. The company's strategic refocus on Latin American assets suggests management is pursuing operational efficiency through geographical concentration.
The transaction is subject to McFarlane securing minimum financing of
The Juby Gold Project is an exploration-stage gold project located in the Shining Tree area of
Neil Woodyer, CEO of Aris Mining, commented "The sale of Juby reflects our strategic focus on building a leading gold mining company in
Mark Trevisiol, CEO and Chairman of McFarlane, added "Our team is very excited to be working with Aris Mining on the acquisition of the Juby Gold asset. The addition of this project to McFarlane's portfolio will be accretive to our business and ultimately shareholder value. This acquisition transforms our junior gold exploration company into a gold exploration and development company. The team at Aris has been excellent to work with and we look forward to having them as a significant shareholder of McFarlane."
Under the terms of the Agreement, Aris Mining will receive total consideration of
US in cash, payable on closing;$10 million - common shares of McFarlane, representing the balance of the consideration payable up to a maximum of
19.9% of its post-financing share capital, issued at the price of McFarlane's concurrent equity financing, and issuable on closing; and - an additional payment, if required to reach the total
US purchase price, payable within 12 months of closing in either cash or additional shares (subject to Aris Mining holding in aggregate no more than$22 million 19.9% of McFarlane's share capital), at McFarlane's option.
Completion of the transaction is conditional on McFarlane raising at least
About Aris Mining
Founded in September 2022, Aris Mining was established with a vision to build a leading
Aris Mining operates two underground gold mines in
Aris Mining intends to pursue acquisitions and other growth opportunities to unlock value through scale and diversification.
Additional information on Aris Mining can be found at www.aris-mining.com, www.sedarplus.ca, and on www.sec.gov.
About McFarlane
McFarlane is a gold exploration company focused on the exploration and development of its portfolio of properties, which include, the past producing McMillan and Mongowin gold properties, located 70 km west of
To learn more, visit: https://mcfarlanelakemining.com/
Additional information on McFarlane can be found by reviewing its profile on SEDAR+ at www.sedarplus.ca..
Forward-Looking Information
This news release contains "forward-looking information" or "forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, including, without limitation, statements relating to the timeline for the completion of the transaction, the ability of Aris Mining and McFarlane to satisfy or waive closing conditions under the Agreement, including receipt of required regulatory and third-party approvals, the ability of McFarlane to satisfy the financing condition under the Agreement, receipt of any additional payment following completion of the transaction, statements included in the "About Aris Mining" section of this news release relating to the Segovia Operations, Marmato Complex, Soto Norte Project and Toroparu Project and statements included in the "About McFarlane" section of this news release are forward-looking. Generally, the forward-looking information and forward looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The material factors or assumptions used to develop forward looking information or statements are disclosed throughout this news release.
Forward looking information and forward looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aris Mining and McFarlane to be materially different from those expressed or implied by such forward-looking information or forward looking statements, including but not limited to the ability to complete the transaction with McFarlane, including receipt of the required regulatory and third-party approvals and completion of McFarlane's concurrent financing, and those factors discussed in the section entitled "Risk Factors" in Aris Mining's annual information form dated March 12, 2025 which is available on SEDAR+ at www.sedarplus.ca and with the SEC at www.sec.gov and in McFarlane's annual information form dated November 27, 2024, which is available on SEDAR+ at www.sedarplus.ca.
Although Aris Mining and McFarlane have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. Aris Mining and McFarlane have and continue to disclose in their Management's Discussion and Analysis and other publicly filed documents, changes to material factors or assumptions underlying the forward-looking information and forward-looking statements and to the validity of the information, in the period the changes occur. The forward-looking statements and forward-looking information are made as of the date hereof and Aris Mining and McFarlane disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.
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SOURCE Aris Mining Corporation