Core Viewpoint - Eco Oro Minerals Corp. has filed an application to annul a damages award from an arbitration tribunal that awarded no monetary compensation to the company in its case against the Republic of Colombia, and has initiated a US$4.5 million financing to support this annulment process and ongoing operations [1][2][3]. Annulment Filing - The annulment request is based on Article 52 of the ICSID Convention, citing material deficiencies in the Tribunal's decision, claiming it is legally unsound and seeking cost recovery [2]. - The company plans to elaborate on these grounds in future submissions [2]. Tribunal Review Process - The annulment application will be reviewed by a three-member ad hoc committee appointed by the ICSID Administrative Council, with the process expected to take 18 to 36 months from registration [3]. - The Executive Chair of the Board expressed disagreement with the Tribunal's decision, highlighting contradictions and errors in the award [3]. Private Placement - Eco Oro has entered into an investment agreement with GrayWolfe Capital SEZC and other investors to launch a private placement of US$4.5 million in contingent value rights certificates, structured in two tranches [4][5]. - The first tranche of US$4.0 million is expected to be completed around August 1, 2025, while the second tranche of US$500,000 is anticipated in September 2025 [7]. Financing and Debt Structure - The financing will allow the company to issue up to US$1 million of additional 2025 CVRs and up to US$7 million of new Resubmission CVRs if needed [8]. - The company is also permitted to incur up to US$6 million of senior debt and US$4 million of subordinated debt [8]. Claim Proceeds Distribution - Claim proceeds from the arbitration will be distributed in a specific order, prioritizing the settlement of outstanding trade payables and legal fees, followed by pro rata distributions to holders of various CVRs [12]. - The distribution structure includes specific percentages allocated to different stakeholders, including 85% to 2025 CVR holders and 5% to management incentive plan participants [12].