08:20 AM EST, 11/20/2025 (MT Newswires) -- Aris Mining ( ARMN ) said Thursday that it entered a binding term sheet to acquire the remaining 49% interest that it does not own in the Soto Norte joint venture in Colombia from MDC Industry for US$80 million.

Consideration comprised US$60 million in cash and 1,739,130 newly issued common shares, issued at a deemed price of $11.50 per share.

The transaction is expected to close by early December.

"Backed by a portfolio of high-quality projects, a strong financial position, and robust operating cash flows from our existing mines, we now have a diversified, fully owned growth pipeline toward becoming a 1-million-ounce-per-year gold producer," Chief Executive Officer Neil Woodyer said.

"Importantly, our recent settlement agreement with the Government of Colombia underscores how collaboration is essential to advancing major projects in the country and reinforces the strong foundations for long-term success," Woodyer added.

Aris traded 2% higher on Wednesday to C$16.67 per share on the Toronto Stock Exchange.