08:19 AM EDT, 10/15/2025 (MT Newswires) -- Bocana Resources (BOCA.V) overnight Tuesday announced that it had signed a Joint Venture Agreement with Arizore Ltd., of Nevis, West Indies, whereby Arizore and Bocana have agreed to establish and jointly own Arizore LLC, a limited liability company incorporated in Nevada, United States.

Under the terms of the JV, each member will hold a 50% membership interest in the JV company and all intellectual property developed in connection with tokenization will be jointly owned by the members.

The company said that distributions of net proceeds will be shared 50/50 between the members after application of the agreed waterfall, including payment of taxes and operating costs, funding of reclamation and environmental obligations, and repayment of funding loans.

The company also said that Arizore Ltd will provide all project funding to the JV company through secured loans. The funding will include the acquisition costs, due diligence, capital expenses, and operational costs for the project, and is expected to total up to US$60 million in secured funding loans, without any obligation on Bocana to contribute equity capital.

Bocana said it will act as the operator responsible for exploration, mine development, feasibility studies, and mining operations in accordance with prudent mining practices and applicable regulatory standards in situations where the JV company is the operator of the projects.

A statement noted that the arm's length JV agreement provides that the JV company will acquire, hold, explore, develop, and operate the mining properties and to engage in activities incidental thereto, including mineral exploration, mine development, ore processing, production and sale of gold, silver, magnetite and other minerals, entering into offtake/ forward agreements, marketing contracts, undertaking financing and tokenization, and other activities approved by the JV company's Board of Managers and consistent with the JV agreement.

A statement further noted that Arizore Ltd and Bocana, "in a strategic move to advance digital asset innovation," also announced that Arizore Ltd plans to develop and operate a secure, compliance-focused digital infrastructure for the tokenization of mining-related assets, engaging industry specialists where appropriate.

The company added that an Arizore Ltd board member will sit on the board of Bocana in a director's role and a Bocana board member will sit on the board of Arizore Ltd in a director's role. In the JV company, each member will appoint an equal number of managers to the board of managers, and certain reserved matters will require unanimous approval of the members, said Bocana.

"This joint venture represents more than just shared ownership and development of mineral assets - it's a shared vision for the future of digital innovation," said Bocana's Chief Executive Officer, Tim Turner. "Together, we're building a foundation that will redefine how intellectual property and revenues are generated through tokenization of mineral assets, and we're proud to partner with Arizore Ltd in this venture and to lead the charge."