Orex enters into JV with Agnico Eagle to develop Barsele mining project
Orex Minerals Inc. and Agnico Eagle Mines Limited have entered into a joint venture agreement with respect to the development of Orex’s Barsele Project. In connection with the joint venture, Orex has sold a 55% ownership interest in the project to Agnico Eagle. The main focus of the Barsele Project, located near Storuman in northern Sweden, is to discover and define gold and poly-metallic deposits.
Orex is a Canadian-based so called junior exploration company with several projects in Sweden, Mexico and British Columbia, Canada. Agnico Eagle is a Canadian gold mining company holding eight mines located in Canada, Finland and Mexico, and additional exploration and development activities in the United States.
Orex was advised by Mannheimer Swartling on Swedish law in the transaction. The firm’s team primarily consisted of Martin Ericsson and Viktor Nykvist (M&A and corporate matters) and Felicia Ullerstam (environment and regulatory). Stikeman Elliott LLP co-operated with Mannheimer Swartling.