Aftermath Silver agreement for Challacollo property
2020-01-10 17:23 ET – Property Agreement
The TSX Venture Exchange has accepted for filing a share purchase agreement among Aftermath Silver Ltd., Mandalay Resources Corp. and Mandalay Resources (Chile) SPA (Mandalay Chile) dated Nov. 8, 2019, pursuant to which the company will acquire all of the issued and outstanding shares of Minera Mandalay Challacollo Ltda., the holder of the Challacollo silver-gold project, located in Chile. As consideration, the company will pay $7.5-million to the sellers, of which up to $2.75-million may be paid in shares of the company, subject to the further approval of the exchange. The sellers will also receive a net smelter royalty (NSR) of 3 per cent on the Challacollo silver-gold project up to a maximum of $3-million.
An arm’s-length finder’s fee of $407,500 is payable to Elysium Mining Ltd. (Peter Voulgaris).
Insider/pro group participation: none
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