GOLDEN, Colo.–(BUSINESS WIRE)–Golden Minerals Firm (Golden Minerals, Golden or the Firm) (NYSE-A: AUMN and TSX: AUMN) as we speak introduced it has signed a binding settlement (the Settlement) to promote its Yoquivo gold-silver mission (positioned in Chihuahua State, Mexico) (the Yoquivo Venture) to Advance Metals Restricted (ASX: AVM) (AVM) an ASX-listed entity centered on the acquisition, discovery, and development of high-quality metals initiatives (the Transaction).
Below the phrases of the Settlement, AVM shall buy 100% of the Yoquivo Venture 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 Value), 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 correct 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 likely be topic to extra circumstances, together with receipt of regulatory approvals and completion of due diligence assessment by AVM. Within the occasion that AVM decides to not full the Transaction, AVM will likely be topic to a breakup payment of 20% of the Buy Value.
Ahead-Wanting Statements
This press launch comprises forward-looking statements inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended, and forward-looking info inside the which 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 payment within the quantity of 20% of the Buy Value 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 flexibility of the Firm to promote or understand worth from the sale of the Yoquivo Venture 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 circumstances; will increase in prices and declines usually financial circumstances; adjustments in political circumstances, in tax, royalty, environmental and different legal guidelines in the US, Mexico or Argentina and different market circumstances; and fluctuations in silver and gold costs. Golden assumes no obligation to replace this info. Extra dangers referring to Golden could also be discovered within the periodic and present reviews filed with the Securities & Trade Fee by Golden, together with the Firm’s Annual Report on Kind 10-Okay for the 12 months ended December 31, 2023.
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Golden Minerals Firm
(303) 839-5060
Supply: Golden Minerals Firm