Bocana Resources forms Nevada JV with Arizore for $60M mining venture

Bocana Resources (TSXV:BOCA:CA [https://seekingalpha.com/symbol/BOCA:CA]) has entered a joint venture agreement [https://seekingalpha.com/pr/20265925-bocana-resources-corp-announces-joint-venture-with-arizore-ltd-to-form-arizore-llc] with Nevis-based Arizore Ltd., effective September 23, 2025. The two companies will jointly own and establish Arizore LLC, a limited liability company incorporated in Nevada, U.S.

The JV company aims to acquire, explore, develop, and operate mining properties. The JV is also authorized to pursue financing, marketing, and tokenization initiatives.

Arizore will provide all project funding through secured loans, expected to total up to $60M ("Funding Loans"). This funding covers acquisition, due diligence, capital, and operational costs.

The agreement specifies that any equity issuance exceeding ten percent (10%) requires unanimous consent from both Bocana and Arizore.

Under the JV, Bocana and Arizore each take a 50% stake in the JV Company. All intellectual property created from the tokenization efforts will be jointly owned.

Distribution of net proceeds will be split equally after a required sequence of payments, which includes settling taxes, operating expenses, environmental costs, and servicing the Funding Loans (starting with interest, then principal).

The JV company board will have an equal number of managers appointed by each member, and certain crucial matters require unanimous approval.

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* Financial information for Bocana Resources Corp. [https://seekingalpha.com/symbol/BOCA:CA/income-statement]