We are pleased to announce that we have successfully finalized a Joint Venture Agreement concerning our avocado project, which incorporates innovative developments in land utilization. This agreement marks a significant step forward for our company, particularly in light of recent changes in legislation regarding the cultivation of mining lands.
Negotiating this agreement has been particularly challenging due to the historical terms governing the land granted mining rights, which were originally restricted to mining activities. However, the evolving legal landscape now allows for the cultivation of such lands, aimed at enhancing environmental sustainability. We are seizing this unique opportunity to not only further our agricultural objectives but also to include a copper restoration project within the agreement, demonstrating our commitment to both profitability and environmental stewardship.
Initially, our plan was to pursue a lease arrangement; however, our legal team in Peru advised that due to the complexities of mining laws regarding such land types, a Joint Venture Agreement would be more advantageous. This new structure not only aligns better with our operational goals but also positions us more favorably in the market.
We are excited to announce that the product launch for our avocado project is scheduled for November 1st. This launch will be limited to 20 plots available during Phase 1, primarily due to the upcoming planting season. This is a unique opportunity to register your interest prior to the actual product launch.
For further details, please contact us on cs@saracenpro.com to receive your information deck and registration form.
As we transition into a public company under the name Saracen LATAM, our aim is to explore every possible viable business proposition in Peru, whether in the mining or agricultural sectors. We believe this approach will greatly enhance our potential for growth and provide exciting opportunities for our investors.
Thank you for your continued support as we embark on this promising new chapter.
IR Team
SARACEN PRO S.A / SARACEN LATAM