Business
Roland Mineral Enterprises: Venezuela's New Mining Law Approved
Boston, Massachusetts--(Newsfile Corp. - May 6, 2026) - Roland Mineral Enterprises Corp. (TSXV: RME) is pleased to announce Venezuela's new 'Ley Orgánica de
About this update from Roland Mineral Enterprises Corp.
[{"type":"text","content":" Boston, Massachusetts--(Newsfile Corp. - May 6, 2026) - Roland Mineral Enterprises Corp. (TSXV: RME) is pleased to announce Venezuela's new 'Ley Orgánica de Minas,' Organic Mining Law (the \"New Mining Law\"), is now formally enacted and published in Venezuela's Official Gazette.The New Mining Law represents a significant step in Venezuela's restructuring of its mining framework, opening the sector to international investment and aligning with a broader rapprochement between Caracas and Washington. Roland welcomes the New Mining Law and congratulates Venezuelan law makers. On March 27, 2026, Roland announced its Venezuela Mineral Rights Acquisition Program to identify, pursue and acquire mineral rights in Venezuela. Roland's Strategic Access Agreement with the prior legacy rights holder of the World Scale Las Cristinas gold deposit intends to give Roland access to Las Cristinas exploration and development data created by Placer Dome at a reported cost of over $171,000,000, and grants Roland the exclusive use and benefit of the geologists, accountants, legal advisors and others of the former legacy rights holder, providing Roland with direct access to consultants with first-hand knowledge of Las Cristinas and other Venezuelan gold deposits and projects. KEY PROVISIONS OF NEW MINING LAW The New Mining Law: Opens the mining sector to foreign investment to develop and mine gold and other minerals. Permits the commercialization of gold and other minerals both domestically and in foreign markets. Establishes mining concession terms for up to 30 years, renewable for two additional 10-year periods. Introduces mediation and arbitration mechanisms for dispute resolution with investors. Establishes royalty and tax frameworks, including royalties payable in cash or in kind. Roland views the New Mining Law as a significant step toward opening Venezuela's mining industry to international investment. Roland is pleased to announce the grant of a total of 250,000 stock options to acquire common shares of the Company exercisable at $0.28 per share, for a three-year term. The options are granted pursuant to the Company's stock option plan and are subject to applicable regulatory hold periods. Roland is at this time not proceeding with its non-brokered private placement financing announced on March 27, 2026. QUALIFIED PERSON The technical content ...