NKO Partners Advises on Sale of Former Silver-Zinc-Lead Mines Kizevak and Sastavci in Serbia

Djuro OtaševićPartner, NKO Law Office

NKO Partners advises the selling side in the sale of past producing silver-zinc-lead mines Kizevak and Sastavci in Serbia to Tethyan Resource Corporation. The first closing for the acquisition was completed on May 14, 2020 providing Tethyan with 10% of shares in local EFPP d.o.o. Namely, EFPP holds two exploration licenses over past producing mines in Raska district. The second closing leading to the sale of remaining 90% shares may occur any time within the next 12 months, subject to Tethyan’s choice to exercise its exclusive purchase right. This deal represents a key condition precedent for the proposed acquisition of Tethyan by Adriatic Metals.

NKO Partners’ team was led by Djuro Otasevic, Partner. Karanovic & Partners advised Tethyan.

Contributing Advisors

Djordje NikolicPartner, NKO Law Office