Aztec Minerals completes purchase of 35% interest in the Cervantes Property in Sonora, Mexico from Kootenay Silver

About this update from Aztec Minerals Corp.

[{"type":"text","content":"Aztec Minerals completes purchase of 35% interest in the Cervantes Property in Sonora, Mexico from Kootenay SilverVANCOUVER, BC / ACCESSWIRE / August 23, 2022 / Aztec Minerals Corp. (AZT:TSX-V, OTCQB:AZZTF) (\"Aztec\") and Kootenay Silver Inc.(TSXV: KTN) (\"Kootenay\") are pleased to announce the closing of the transaction whereby Aztec indirectly acquired Kootenay's 35% interest in the joint venture company (\"JV Corp.\") that holds the Cervantes porphyry gold-copper project in Sonora, Mexico (the \"Transaction\"), which was previously announced on July 26, 2022. As consideration for the 35% interest in JV Corp., Aztec has issued to Kootenay 10,000,000 common shares in the capital of Aztec (the \"Aztec Shares\"), at a price of C$0.25 per Aztec Share for aggregate consideration of $2,500,000, and Kootenay has retained a 0.5% Net Smelter Return Royalty. As a result of the Transaction, JV Corp. is now a wholly owned subsidiary of Aztec. No finder's fees were paid in accordance with the Transaction. Kootenay became an insider as a result of the Transaction, and accordingly, Kootenay is providing the following disclosure pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues with respect to its ownership of more than 10% of the issued and outstanding common shares of Aztec (\"Aztec Shares\"). Following the closing of the Transaction, Kootenay owns a total of 10,680,000 Aztec Shares. Kootenay's ownership of Aztec Shares represents approximately 11.85% of the issued and outstanding Aztec Shares on an undiluted basis. Kootenay held 680,000 Aztec Shares prior to the acquisition of the beneficial ownership of, and control and direction over, 10,000,000 Aztec Shares.The Aztec Shares held by Kootenay are for investment purposes only. Kootenay currently has no plans or intentions that relate to, or would result in, any of the actions requiring disclosure under applicable early warning reporting provisions. In accordance with applicable securities laws and the policies of the TSXV, Kootenay Silver may, from time-to-time, acquire additional Aztec Shares in the open market or otherwise, and reserves the right to dispose of any or all of such securities from time-to-time, and to engage in similar transactions with respect to such securities, the whole depending on market conditio...

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