Candelaria Announces Completion of Disposition of Minera Apolo

About this update from Candelaria Mining Corp.

[{"type":"text","content":"Candelaria Announces Completion of Disposition of Minera Apolo\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, B.C.,\nJuly 3, 2025 –\n \n\n TheNewswire -\n \n\n Candelaria Mining Corp.\n(TSX-V: CAND, OTC PINK: CDELF)\n \n\n (“\n \n\n Candelaria\n \n\n ” or the\n“\n \n\n Company\n \n\n ”), is pleased to\nannounce that it has fully resolved the enforcement proceedings with\nGoldgroup Mining Inc. (“\n \n\n Goldgroup\n \n\n ”) pursuant to the previously announced agreement to suspend\nenforcement proceedings, dated March 6, 2025 (the “\n \n\n Agreement\n \n\n ”) and entered into by the Company,\nGoldgroup and Minera Apolo, S.A. de C.V. (“\n \n\n Apolo\n \n\n ”), a wholly-owned subsidiary of the\nCompany which holds the Company’s interests in the Pinos Project.\nThe enforcement proceedings were related to the default under the\nmedium-term loan facility (the “\n \n\n Loan\nFacility\n \n\n ”) originally\nprovided by Accendo Banco, S.A., Institución de Banca Múltiple,\nwhich was subsequently transferred to Goldgroup.\n \n\n\n\n Under the terms of the Agreement,\nCandelaria transferred all of the outstanding shares of Apolo (the\n“\n \n\n Apolo\nShares\n \n\n ”) to Goldgroup,\nresulting in a disposition of the Company’s interests in the Pinos\nProject (the “\n \n\n Transaction\n \n\n ”). The Transaction constituted full and final satisfaction of the\nLoan Facility, and all claims against Candelaria related to the Loan\nFacility have been released. As additional consideration, Goldgroup\nissued 716,667 shares to the Company and provided a cash payment of\nUS$89,000. Goldgroup will provide another cash payment of US$89,000 to\nthe Company within six months after receiving the TSX Venture\nExchange’s (the “\n \n\n TSXV\n \n\n ”)\nfinal approval of the Transaction, being no later than January 7,\n2026.\n \n\n\n\n In connection with the completion of\nthe Transaction, the Company’s listing will be transferred to the\nNEX Board of the TSXV (“\n \n\n NEX\n \n\n ”)\nand the Company’s common shares are expected to commence trading on\nNEX effective July 9, 2025.\n \n\n\n\n On Behalf of\nCandelaria\n \n\n\n\n Héctor Félix Gonz&#xE...

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