Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • CleanTech has acquired option rights to the El Triunfo Project for CAD 155,000 in cash.
  • The project spans 256 hectares near La Paz, Bolivia, and includes gold and antimony assets.
  • Transaction falls under related-party rules but qualifies for exemption under MI 61-101 guidelines.

CleanTech Vanadium Mining Corp. (TSXV:CTV) has completed the acquisition of option rights to the El Triunfo Gold and Antimony Project located in Bolivia. The company purchased the rights from Silver Elephant Mining Corp. (TSX:ELEF) through an option assignment agreement finalized on August 6, 2025. The total cash consideration for the transaction was CAD 155,000.

The El Triunfo Project spans approximately 256 hectares and is situated roughly 75 kilometers east of La Paz, Bolivia's capital. Under the original agreement, signed on July 10, 2020, Silver Elephant had secured the option to acquire full equity in Mururata S.R.L., the Bolivian company that owns the relevant mining rights. CleanTech now holds that option following the transfer.

The transaction includes a complex set of cross-holdings. Oracle Commodity Holding Corp., which owns 42,799,502 common shares of CleanTech, is considered a control person. Silver Elephant, in turn, is a control person of Oracle, owning nearly 29 million of its shares. As a result, CleanTech and Silver Elephant are related parties under Canadian securities regulations.

Despite the related-party nature of the transaction, CleanTech is exempt from formal valuation and minority shareholder approval under Multilateral Instrument 61-101. This is due to the deal's size relative to CleanTech’s market capitalization, which stood at approximately CAD 6.45 million as of August 5, 2025. At a closing share price of CAD 0.045 and 143.4 million shares outstanding, the transaction represents less than 2.5% of the company’s market cap.

The agreement enables CleanTech to pursue ownership of Mururata S.R.L. and its associated Bolivian mining rights, though no specific development plans for the El Triunfo Project have been disclosed at this stage