The Conversation (0)
VANCOUVER, BC / ACCESS Newswire / August 4, 2026 / Lupaka Gold Corp. ("Lupaka" or the "Company") (TSXV:LPK,OTC:LPKGF)(FRA:LQP) advises as to its progress in pursing receipt of the full proceeds of the ICSID Arbitration AWARD announced by the Company on July 2, 2025.
In response to a proposal letter dated July 21, 2026 from the Ministry of Energy and Mines of Peru (MINEM) and the Ministry of the Interior of Peru (MOI), the Company has agreed to Peru's proposed terms, which are as follows:
MINEM pays 70% of the Award, including accrued interest to June 30, 2026 by July 31, 2026, totaling approx. USD49.4 million, which has now been received;
MOI will pay the remaining 30% of the Award, including accrued interest to June 30, 2026, by December 31, 2026, which totals approx. USD21.2 million. In the event that this amount is not paid by December 31, 2026, MOI will pay accrued interest from July 1, 2026 to the actual payment date; and
the Company will submit the corresponding motions to the competent jurisdictional authorities requesting the suspension of any enforcement proceedings, attachment orders, or other measures that are pending or in effect at this time. Additionally, the Company will refrain from taking any further steps to initiate or continue enforcement proceedings currently underway in various jurisdictions.
With the receipt of the first 70%, the Company's first obligation is to repay Bench Walk Advisors ("Bench Walk") for their financing of the arbitration process, as well as pay their contingent profit share commission.
After the Bench Walk payments, the Company will immediately undertake the payment of the first eligible dividend payment to the holders of the 160,277,702 contingent value rights (the "CVR Holders") within the next 30 days.
As set out in the June 2022 Contingent Value Rights Trust Indenture Agreement, the first CVR dividend amount will be determined by the Company's directors and will equal the applicable distribution amount after deducting: amounts payable to Bench Walk; legal and professional fees; accounts payables and accrued liabilities as of the Award date (June 30, 2025); the costs of the two planned CVR distributions; withholding and distribution tax costs; and up to C$8 million to be retained by the Company for working capital and other corporate purposes
Once the second Peru (MOI) payment is received, the Company will immediately undertake the payment of a second eligible dividend payment. Having covered payment of the previously referenced netted costs with the first CVR dividend payment, it is anticipated that the second CVR dividend payment will be greater than the first.
Gordon Ellis (CEO) commented "This has been a long haul and we are pleased that it is almost over and with a positive outcome. We will get the CVR Holder payments out as soon as possible now and again upon our receipt of the second Peru payment. We can now move forward and focus on pursuing potential resource development projects".
For ongoing updates and additional details with respect to the distribution of the eligible CVR dividend to CVR Holders, please refer to the Company's website (www.lupakagold.com/arbitration/).
Lupaka was represented in the arbitration proceedings by the international law firm LALIVE (www.lalive.law), with the financial backing of Bench Walk Advisors (www.benchwalk.com).
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.
About Lupaka Gold
Lupaka is a Canadian-based company focused on creating shareholder value through the identification and development of mining assets.
About LALIVE
LALIVE is an international law firm with offices in Geneva, Zurich and London, that specializes in international dispute resolution. The firm has extensive experience in international investment arbitration in the mining sector, amongst others, and is currently representing investors and States as counsel worldwide.
About Bench Walk Advisors
Bench Walk Advisors is a global litigation financier with over USD 250 million of capital deployed across in excess of 100 commercial cases. Bench Walk and its principals have consistently been ranked as leading lawyers and litigation funders in various global directories.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gordon Ellis, C.E.O.
gellis@lupakagold.com
Tel: (604) 985-3147
SOURCE: Lupaka Gold Corp.
View the original press release on ACCESS Newswire
