On Jan. 27, 2019, Karmin Exploration Inc. ("Karmin") (TSXV: KAR) (BVL: KAR) completed the sale of all the shares of its wholly-owned subsidiary Karmin Peru S.A.C. ("Karmin Peru") to One Valley International Limited, a subsidiary of VI Mining PLC ("VI Mining") (NEX: VIM).
Karmin is a public mining and exploration company, headquartered in Toronto, Ontario, traded on the TSX Venture Exchange in Canada and in Peru on the Bolsa de Valores de Lima. The company's focus is on gold and zinc exploration in Brazil and Peru where Karmin owns interest in several properties. Karmin Peru is a private closed corporation (a Sociedad Anónima Cerrada) existing under the laws of the Republic of Peru, and held 100% of Karmin's right, title and interest in the mining concessions that form part of, and are known as, the Cushuro Gold Project in Peru.
VI Mining, based in Jersey, Channel Islands, and listed on the NEX Exchange in London, UK, is an emerging gold and silver producer focused on the development and operation of gold and silver projects in Peru.
Ian Mitchell and Marcus Hinkley of Gowling WLG advised Karmin in this transaction.
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