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Americas Petrogas acquires additional 30% interest in Bayovar Concession


Published Feb 2, 2016
Americas Petrogas

Americas Petrogas Inc., through its Peruvian subsidiary, has acquired an additional 30% beneficial interest in the Bayovar mineral concessions 5, 6, 7 and 8 (the "Bayovar Concessions") from its Peruvian partner (the "Peruvian Co-venturers").

Consequently, the Company's Peruvian subsidiary now holds a 100% beneficial interest in the Bayovar Concessions. Following this acquisition, the Company's net working interest in the Bayovar Concessions is approximately 89%, after considering the partial shareholding of Indian Farmers Fertiliser Co-operative Limited and its affiliate in GrowMax Agri Corp.

Under the terms of the acquisition agreement with the Peruvian Co-venturers, the acquisition price is US$8.0 million payable over a period of approximately three years as follows:

Tags: Americas Petrogas




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