Handa Copper Corporation (TSXV:HEC) signed an agreement to acquire the Mejillones phosphate project for $3.9 million on January 29, 2018. Under the terms of the agreement, Handa Copper Corporation (Handa) has the exclusive right to conduct due diligence until April 18, 2018, which date can be extended by mutual agreement of the parties. Upon completion of due diligence and electing to acquire 100% of the project, Handa will issue to the seller a total of 5 million shares, subject to a hold period of 18 months. Upon Handa making the decision to pursue development of the project, Handa will issue to the seller an additional 7.5 million shares, subject to a hold period of 12 months from the date of issuance; and pay to the seller a cash amount of $3 million in two tranches; the first tranche of $1.5 million is to be paid six months from the date Handa makes the decision to develop the project, and the second tranche of $1.5 is to be paid six months from the first tranche payment date. Seller will be granted a 1.5% royalty on revenue over the life of mine of the project once in production, which royalty can, at Handa’s election, be bought outright for an amount of $8 million. acquisition of the project will be subject to delivery of a NI 43-101 report and regulatory and shareholder approvals where required. The transaction is subject to completion of satisfactory due diligence and approval from the TSX Venture Exchange. As on August 28, 2018, Handa Mining Corporation completed the due diligence related to the project and made the decision to move forward with the acquisition. Handa Mining Corporation (TSXV:HAND) completed the acquisition of Mejillones Phosphate Project in Chile on October 23, 2018.