March 19, 2015

Willkie represents MINOSA in its financing of and investment in deep-ocean exploration company. 

Willkie advises Minera del Norte S.A. de c.v. (MINOSA), an owner and operator of mines and mineral rights (with worldwide assets of more than $750 million and net sales of $900 million) in connection with its entry into a strategic financing agreement with Odyssey Marine Exploration, Inc.,  a pioneer in the field of deep-ocean exploration.

Under the agreement, MINOSA will extend short-term, debt financing to Odyssey of up to $14.75 million. In addition, Penelope Mining LLC, a wholly-owned subsidiary of MINOSA, has agreed to invest up to $101 million over three years in convertible preferred stock of Odyssey, subject to the terms and conditions in the agreement.  The matter was handled by partners Maurice Lefkort, Jeffery Goldfarb, Mark Holdsworth and Christopher Peters,  and associates Del Ladd, Caleb Vesey, Isabel Araujo and Joseph Antignani.