Business
AUXICO SIGNS OPTION AGREEMENT FOR SALE OF MEXICAN SUBSIDIARY
Auxico Resources Canada Inc. (CSE: AUAG) ("Auxico" or the "Company") has signed an option agreement with Concordia Silver Company S.A. de C.V. ("CSC") for the proposed sale of 100% of the shares of Auxico Resources S.A. de C.V. ("Auxico Mexico"), its wholly owned Mexican subsidiary.
About this update from Auxico Resources Canada, Inc.
[{"type":"text","content":"MONTREAL, April 10, 2025 /CNW/ - Auxico Resources Canada Inc. (CSE: AUAG) ("Auxico" or the "Company") has signed an option agreement with Concordia Silver Company S.A. de C.V. ("CSC") for the proposed sale of 100% of the shares of Auxico Resources S.A. de C.V. ("Auxico Mexico"), its wholly owned Mexican subsidiary.","length":356,"tagName":"p"},{"type":"text","content":"The transaction supports Auxico's strategy to prioritize core assets, strengthen its balance sheet and advance its critical mineral projects in Colombia and Bolivia.","length":169,"tagName":"p"},{"type":"text","content":"Transaction Summary","length":19,"tagName":"p"},{"type":"text","content":"Under the agreement dated March 27, 2025, CSC has a 60-day option to acquire Auxico Mexico for total consideration of USD $666,666, payable in two tranches:","length":156,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"USD $222,222 upon execution of a definitive share purchase agreement, following a due diligence period; and","length":107,"tagName":"p"}]},{"val":[{"type":"text","content":"USD $444,444 upon full reinstatement of the Mineral de Zamora mining concession (Title No. 225182) by the Mexican Mining Authority.","length":136,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":243,"olType":false},{"type":"text","content":"Upon closing, CSC will assume all existing obligations of Auxico Mexico, including those related to the Zamora Property in Sinaloa, Mexico.","length":139,"tagName":"p"},{"type":"text","content":"The transaction has been approved by Auxico's Board of Directors.","length":69,"tagName":"p"},{"type":"text","content":"About Concordia Silver Company","length":30,"tagName":"p"},{"type":"text","content":"Concordia Silver Company is a privately-held mineral exploration company specializing in the acquisition, financing, exploration and development of mineral properties in Mexico.","length":177,"tagName":"p"},{"type":"text","content":"About Auxico Resources Canada Inc ","length":33,"tagName":"p"},{"type":"text","content":"Auxico is a Canadian company that was founded in 2014 and is based in Montreal, trading on the Canadian Stock Exchange (CSE) under symbol AUAG. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia and Bolivia."...