GOLDEN, Colo.–(BUSINESS WIRE)–Golden Minerals Firm (Golden Minerals, Golden or the Firm) (NYSE-A: AUMN and TSX: AUMN) right this moment introduced it has signed a binding settlement (the Settlement) to promote its Yoquivo gold-silver mission (situated in Chihuahua State, Mexico) (the Yoquivo Challenge) to Advance Metals Restricted (ASX: AVM) (AVM) an ASX-listed entity targeted on the acquisition, discovery, and development of high-quality metals initiatives (the Transaction).
Beneath the phrases of the Settlement, AVM shall buy 100% of the Yoquivo Challenge from Minera de Cordilleras S. de R.L. de C.V., a wholly-owned subsidiary of Golden Minerals, for whole consideration of US$570,000 (the Buy Worth), payable in money, plus worth added tax (VAT) as follows:
- A non-refundable money cost of US$20,000, plus VAT, for AVM to have the precise to hold out due diligence for a seven-day unique interval, starting on October 24, 2024.
- On November 1, 2024, AVM shall make a US$275,000 money cost, plus VAT, to Golden.
- On November 21, 2024, AVM shall make a closing US$275,000 money cost, plus VAT, to Golden (collectively, the Transaction Funds).
Closing of the Transaction will probably be topic to extra situations, together with receipt of regulatory approvals and completion of due diligence evaluate by AVM. Within the occasion that AVM decides to not full the Transaction, AVM will probably be topic to a breakup charge of 20% of the Buy Worth.
Ahead-Wanting Statements
This press launch incorporates forward-looking statements inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended, and forward-looking data inside the that means of relevant Canadian securities laws (collectively, forward-looking statements), together with statements concerning the Firm receiving the Transaction Funds contemplated by the Settlement and Transaction and AVM’s cost of a breakup charge within the quantity of 20% of the Buy Worth if AVM decides to not full the Transaction.
These statements are topic to dangers and uncertainties together with the Firm’s receipt of the Transaction Funds; the power of the Firm to promote or understand worth from the sale of the Yoquivo Challenge or its different belongings, or from fairness or different exterior financings; receipt of regulatory approvals required to finish the Transaction; the satisfaction or waiver of the Transaction’s closing situations; will increase in prices and declines basically financial situations; adjustments in political situations, in tax, royalty, environmental and different legal guidelines in america, Mexico or Argentina and different market situations; and fluctuations in silver and gold costs. Golden assumes no obligation to replace this data. Extra dangers regarding Golden could also be discovered within the periodic and present stories filed with the Securities & Change Fee by Golden, together with the Firm’s Annual Report on Kind 10-Ok for the yr ended December 31, 2023.
For added data please go to http://www.goldenminerals.com/
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Golden Minerals Firm
(303) 839-5060
Supply: Golden Minerals Firm
