Karanovic & Partners advised the Canadian precious and base metals exploration company Tethyan Resource Corp. in its acquisition of 10% shares and management control over the of the Serbian geological company EFPP.
With this move, Tethyan secured the exclusive right to purchase the remaining 90% of the shares at some point in the next 12 months. With EFPP being the holder of two exploration licences over former silver-zinc-lead mines Kizevak and Sastavci in Serbia’s Southwestern district of Raška, Tethyan plans to begin drilling in Kizevak in early June.
Karanovic & Partners team led by Partner* Petar Mitrovic and Junior Associate Katarina Tomic assisted with structuring of the transaction, negotiations, preparation of transactional documents, as well as closing and post-closing activities related to the acquisition.
Tethyan is focused on the Tethyan Metallogenic Belt in Eastern Europe, mainly Serbia, where it is acquiring and exploring a portfolio of quality precious and base metals projects with known mineralization and compelling drill targets.