M&A Newsletter — February 2022

Bonanza Gold Mine Project, a 19.25-hectare gold-mining deposit project based in El Carrizo, Mexico owned by Mr. Martin Augusto Vallejo Lujambio, was acquired by Asia Broadband (PINX: AABB) for USD $6.00 million.

Endeavour Silver (NYS: EXK) reached a definitive agreement to acquire Pitarrilla Project, a silver, lead and zinc project based in Durango, Mexico spanning 4,950 hectares across five concessions owned by SSR Mining (TSE: SSRM), for USD $70.00 million.

Broquers Ambiental, a waste-management services provider focused on the separation, recovery and treatment of urban solid waste based in Querétaro, Mexico, was acquired by Cemex (MEX: CEMEXCPO) for an undisclosed amount.

Planta Nueva Ecologia de Tabasco, operator of a plastic-bottle recycling plant aimed at promoting a circular economy in southeastern Mexico, was established as a joint venture between ALPLA Werke Alwin Lehner and Coca-Cola FEMSA (PINX: COCSF) for USD $60.00 million.

Mexico's RYC Alimentos, a producer and distributor of meat products focused on processed meat based in Puebla, Mexico, was acquired by Industrias Bachoco (MEX: BACHOCOB) for USD $61.00 million.

Tangelo, operator of a financial-technology company offering credit products across Latin America, was formed as a joint venture between Colombia's Zinobe and Mexico's Mexarrend.

A stake held by Argo Ventures in Credijusto, a developer of a lending platform designed to provide easy, reliable and transparent credit based in Mexico City, was acquired by an undisclosed investor. Previously, the company closed a funding round for an undisclosed amount with FinRebel and Supernode Ventures.

CVI Refrigerantes Ltda, a beverage producer and distributor based in Brazil, was acquired by Brazil's Spal Indústria Brasileira de Bebidas S.A. (a subsidiary of Coca-Cola Femsa (MEX: KOFUBL)) for USD $114.00 million.

Mexico's Propiedades.com and Tu Cantón were acquired by Tu Habi, a real-estate technology company operating in the used-housing segment in Mexico and Colombia, for an undisclosed amount. With this transaction, Tu Habi becomes the largest real-estate multiplatform in the country.

Mexico's Propiedades.com and Tu Cantón were acquired by Tu Habi, a real-estate technology company operating in the used-housing segment in Mexico and Colombia, for an undisclosed amount. With this transaction, Tu Habi becomes the largest real-estate multiplatform in the country.

U.S.-based Jafra Cosmetics International, a manufacturer of skin- and body-care products based in Los Angeles, California, reached a definitive agreement to be acquired by BetterWare de México (NAS: BWMX) for USD $255.00 million.

Vista Oil & Gas reached a definitive agreement to acquire Aguada Federal and Bandurria Norte, two shale oil-and-gas fields based in Neuquén, Argentina owned by Wintershall Dea, for USD $140.00 million.

Sistema.bio, a manufacturer of prefabricated modular biodigester systems designed to improve the efficiency and quality of life of small-scale farmers, based in Mexico City, closed a funding round for USD $9.99 million.

Mexico's Cheaf, an operator of a food-technology platform aimed at eliminating food waste in stores and restaurants, closed a seed funding round for USD $3.50 million led by Global Founders Capital, reaching a pre-money valuation of USD $12.00 million. Side Door Ventures also participated in this round.

Mexico's Shuttle Central, a developer and operator of an online mobility and transportation platform based in Cancún, joined Y Combinator as part of its W22 cohort and received USD $500,000.00 in the form of SAFE notes. Previously, the company closed a seed funding round for USD $191,000.00 led by The Ark Fund, 500 Startups and G2 Momentum Capital, reaching a pre-money valuation of USD $3.31 million. ArkAngeles.co also participated in this round.

Mexico's Veloz Bio, a developer of a rapid protein-production system designed to scale and develop new proteins, based in Monterrey, joined IndieBio as part of its San Francisco-based cohort and received USD $200,000.00.

Mexico's Palenca, a developer of a payroll application programming interface designed to help companies verify employment and identity data, closed a funding round of USD $2.60 million led by Gilgamesh Ventures and Kima Ventures. Alumni Ventures Group and nine other investors also participated in this round.

Mexico's Parrot, a restaurant-software developer based in Monterrey, closed a funding round of USD $9.85 million led by F-Prime Capital. Other undisclosed investors also participated in this round.

Mexico's Draftea, an operator of a fantasy-sports platform serving the Spanish-speaking world based in Mexico City, closed a funding round of USD $13.20 million led by Kaszek. Sequoia Capital, Bullpen Capital and Nigel Eccles also participated in this round.

Mexico's Fairplay, a developer of a financial platform that invests in performance-marketing campaigns, closed a funding round of USD $35.00 million through a combination of debt and equity. The equity portion of USD $15.00 million was led by Dila Capital and Kayyak Ventures with the participation of SpeedInvest and Elevar Equity. Architect Capital and other undisclosed lenders provided USD $20.00 million in debt financing in the form of a loan. Nazca, QED Investors, Carlos Garcia, Ricardo Weder and Ricardo Salinas also participated in this round.

Mexico's Monto, a developer of an on-demand salary platform designed to access earned wages for a low fee based in Monterrey, closed a funding round for an undisclosed amount with Arrebol Capital and OnetribeVC.

Homie, an operator of an online rental platform created to connect tenants with apartment owners, closed a funding round for an undisclosed amount with Vinte Viviendas Integrales.

Creditas, a Fintech financial-services company, closed a funding round of USD $260.00 million led by Fidelity Management & Research LLC, Actyus and Greentrail Capital, bringing its valuation to USD $4.80 billion.

U.S.-based Angel Studios, a company developing a film-studio platform designed to create and deliver high-quality visual content, closed a funding round of USD $47.00 million led by GigaFund and Uncorrelated Ventures. Alta Ventures Mexico and Kickstart Seed Fund also participated in this round.

U.S.-based Calii, operator of an online marketplace designed to provide essential daily groceries, closed a funding round of USD $22.50 million led by Dalus Capital and JAM Fund, reaching a pre-money valuation of USD $71.00 million. Foundation Partners Group, Forerunner Ventures, Streamlined Ventures and Combinator also participated in this round.

Brazil's Inventa, a company operating a B2B marketplace that connects producers with local retailers, closed a funding round of USD $20.00 million led by Andreessen Horowitz and Monashees. Alter Global, Pear, ONEVC, Maya Capital and NXTP Ventures, among others, also participated in this round.

Brazil's Nude, operator of a food-technology company designed to produce plant-based foods from oats, closed a funding round of BRL R$25.00 million led by Vox Capital, reaching a pre-money valuation of BRL R$100.00 million. Lever VC, Endeavor Scale Up Ventures, Angel Ventures Mexico and Ecoa Capital also participated in this round.

U.S.-based Tokensoft, a company developing a technology platform designed to help issue assets on blockchain at scale, closed a funding round of USD $3.00 million led by Blockventures. Krones, ZBS Capital, Huobi Ventures and OKEx Blockdream Ventures also participated in this round.

Colombia's Favik, a company developing brand-creation software, closed a seed funding round of USD $1.63 million led by Exile, Portafolio CL and Wollef. Jaguar VC, 10X Capital Ventures, First Serve Partners, InQlab and Ventura Capital Management, among others, also participated in this round.

Italy's L'Orto Di Jack, a company operating a fruit-and-vegetable delivery platform designed to create a digitally evolved multichannel player in the Italian market, closed an angel funding round of EUR €700,000.00 with seven individual investors.

Mexico's Fairplay, a developer of a financial platform that invests in performance-marketing campaigns, closed a funding round of USD $35.00 million through a combination of debt and equity. The equity portion of USD $15.00 million was led by Dila Capital and Kayyak Ventures with the participation of SpeedInvest and Elevar Equity. Architect Capital and other undisclosed lenders provided USD $20.00 million in debt financing in the form of a loan. Nazca, QED Investors, Carlos Garcia, Ricardo Weder and Ricardo Salinas also participated in this round.

Mexico's Chemcel, a chemicals and raw-materials provider serving pharmaceutical industries, based in Lomas de Santa Fe Mexico, was acquired by Barentz International through its financial sponsor Cinven via an LBO for an undisclosed amount.

Tribal, a company operating a payment and financing platform for businesses in emerging markets, closed a crypto venture-debt financing round of USD $40.00 million with Partners for Growth (PFG) and Stellar Development Foundation (SDF).

Mexico's Aeroméxico (MEX: AEROMEX) reached an agreement for MXN $40.00 million with a group of unsecured creditors to withdraw their objection to the airline's restructuring plan, which includes a capital increase of USD $4.27 billion.

Americas Gold, a Canadian mining company, announced that it will invest MXN $600.00 million in the San Rafael mine, located in Cosalá, Sinaloa, over the next three years.

Lock Capital listed a new Investment-Project Trust Certificate (Certificado Bursátil Fiduciario de Proyectos de Inversión) for a maximum amount of USD $840.00 million on the Bolsa Mexicana de Valores (BMV). The placement amounted to USD $2.70 million across three series with a 10-year term.

Mexico's Mendel, a company specializing in corporate expense management, signed a corporate alliance with Visa (NAS: V) to obtain a principal license enabling it to directly issue and operate its Corporate Credit Card program on the multinational's payment network.

Factoraje Afirme (MEX: AFIRFAC) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $102.66 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Almacenadora Afirme (MEX: AFIRALM) carried out four placements of short-term market securities (certificados bursátiles de corto plazo) for MXN $225.00 million, MXN $515.83 million, MXN $290.00 million and MXN $60.99 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Arrendadora Afirme (MEX: AFIRMAR) carried out three placements of short-term market securities (certificados bursátiles de corto plazo) for MXN $26.75 million, MXN $47.35 million and MXN $103.13 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Arrendadora Afirme (MEX: AFIRMAR) carried out three short-term commercial paper placements of MXN $26.75 million, MXN $47.35 million and MXN $103.13 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Arrendadora Afirme (MEX: AFIRMAR) carried out three short-term commercial paper placements of MXN $26.75 million, MXN $47.35 million and MXN $103.13 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Sofoplus (MEX: SFPLUS) carried out two short-term commercial paper placements of MXN $100.00 million each on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Ve por Más.

Grupo Hyc (MEX: HYCSA) carried out a short-term commercial paper placement of MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa and Casa de Bolsa Banorte.

La Compañía Minera Autlán (MEX: AUTLAN) carried out a short-term commercial paper placement of MXN $200.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa and Intercam Casa de Bolsa.

Paccar Financial México (MEX: PCARFM) carried out a short-term commercial paper placement of MXN $200.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Volkswagen Leasing (MEX: VWLEASE) carried out two short-term commercial paper placements of MXN $51.32 million and MXN $848.68 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Volkswagen Leasing (MEX: VWLEASE) carried out two short-term commercial paper placements of MXN $51.32 million and MXN $848.68 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Toyota Financial Services México (MEX: TOYOTA) completed two short-term stock-exchange certificate placements for MXN $71.27 million and MXN $57.48 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) completed two short-term stock-exchange certificate placements for MXN $71.27 million and MXN $57.48 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

GM Financial de México (MEX: GMFIN) completed three short-term stock-exchange certificate placements for MXN $92.04 million, MXN $145.56 million, and MXN $412.40 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

GM Financial de México (MEX: GMFIN) completed three short-term stock-exchange certificate placements for MXN $92.04 million, MXN $145.56 million, and MXN $412.40 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

GM Financial de México (MEX: GMFIN) completed three short-term stock-exchange certificate placements for MXN $92.04 million, MXN $145.56 million, and MXN $412.40 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Navistar Financial (MEX: NAVISTS) completed a short-term stock-exchange certificate placement for MXN $120.00 million on the Bolsa Mexicana de Valores (BMV) through Intercam Casa de Bolsa and Casa de Bolsa Base.

ION Financiera (MEX: ION) completed a short-term stock-exchange certificate placement for MXN $100.65 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Mexarrend (BIVA: MEXAMX) completed a short-term stock-exchange certificate placement for MXN $170.00 million on the Bolsa Institucional de Valores (BIVA) through Vector Casa de Bolsa.