{"id":48936,"date":"2025-06-02T09:13:39","date_gmt":"2025-06-02T09:13:39","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&p=48936"},"modified":"2025-06-02T09:13:39","modified_gmt":"2025-06-02T09:13:39","slug":"tobar-zvs-advises-lumina-gold-corp-on-its-c581-million-acquisition-by-cmoc-a-landmark-mining-deal-in-ecuador","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/tobar-zvs-advises-lumina-gold-corp-on-its-c581-million-acquisition-by-cmoc-a-landmark-mining-deal-in-ecuador\/","title":{"rendered":"Tobar ZVS Advises Lumina Gold Corp. on its C$581 Million Acquisition by CMOC: A Landmark Mining Deal in Ecuador"},"content":{"rendered":"

Quito, Ecuador \u2013 April 28, 2025 \u2013 Tobar ZVS, one of Ecuador\u2019s most prestigious corporate law firms, once again takes a leading role as legal advisor in a landmark mining transaction in the country. The firm advised Lumina Gold Corp. (TSXV: LUM) on the negotiation and execution of an Arrangement Agreement with CMOC Singapore Pte. Ltd., a subsidiary of CMOC Group Limited, under which CMOC will acquire all of Lumina\u2019s outstanding common shares for approximately C$581 million in an all-cash transaction.<\/strong><\/p>\n

<\/p>\n

Under the terms of the Arrangement, CMOC will acquire Lumina through a plan of arrangement under Canadian law at a price of C$1.27 per share.<\/p>\n

Lumina Gold owns the Cangrejos Project, which is the largest primary gold deposit in Ecuador and the first world-class gold project on the country\u2019s coast. The project is currently progressing toward construction, with a term sheet signed with the Government of Ecuador for the exploitation contract \u2013 a negotiation in which Tobar ZVS also served as lead counsel. The project is expected to require a CAPEX of approximately USD 1.378 billion, representing a historic investment for the country.<\/p>\n

Tobar ZVS has been representing the Cangrejos Project since 2016, reinforcing nearly a decade of continuous legal support for developing one of Latin America’s most significant mining assets.<\/p>\n

C\u00e9sar Zum\u00e1rraga, Head of Mining at Tobar ZVS, commented:\u201cThis transaction marks a pivotal moment not only for Lumina, but also for the future of Ecuador’s mining sector. We are honoured to be part of a project that will transform the country\u2019s economy, and this milestone reflects Tobar ZVS’s unwavering commitment to delivering world-class legal counsel, combining deep mining expertise, strategic foresight, and unparalleled local knowledge. We remain steadfast in supporting large-scale projects with the legal precision they deserve to reach their full potential.\u201d<\/em><\/p>\n

 <\/p>\n

About Tobar ZVS<\/strong><\/p>\n

For over 30 years, Tobar ZVS has been the go-to law firm for domestic and international corporate clients in Ecuador. Renowned for its energy, mining, infrastructure, and M&A leadership, the firm combines technical legal excellence, business acumen, agile response capabilities, and cutting-edge technology-driven solutions.<\/p>\n

Through its digital platform, which features ExponentiaLaw\u00ae, SmartLex\u00ae, and ContractBank\u00ae, Tobar ZVS offers clients a unique collaborative and efficiency-driven experience.<\/p>\n

About Lumina Gold Corp.<\/strong><\/p>\n

Lumina Gold Corp. (TSXV: LUM) is a Vancouver-based precious and base metals exploration and development company, advancing its Cangrejos Project in Ecuador\u2019s El Oro province. In 2023, Lumina completed a Prefeasibility Study confirming Cangrejos as the country\u2019s largest primary gold deposit. The company\u2019s leadership team has a strong track record of successfully advancing and monetizing world-class mining assets.<\/p>\n

About the Cangrejos Project<\/strong><\/p>\n

Located just 30 km from the Pan American Highway and 40 km from the deep-water port of Puerto Bol\u00edvar, the Cangrejos Project is poised to become a transformative force for Ecuador’s economy. Its development promises to create thousands of jobs, drive local community growth, and stimulate strategic sectors across the nation.<\/p>\n

Lead Partner:<\/strong>
\nC\u00e9sar ZUMARRAGA<\/p>\n

Legal Team:<\/strong>
\nJuan Fernando Larrea<\/p>\n

Juan Mart\u00edn Alarc\u00f3n<\/p>\n

Andr\u00e9s Paz y Mi\u00f1o<\/p>\n

 <\/p>\n

For more Information:<\/strong><\/p>\n

C\u00e9sar ZUMARRAGA<\/p>\n

czumarraga@tzvs.ec<\/a><\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-48936","press_releases","type-press_releases","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases\/48936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/press_releases"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=48936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}