Business
Closing of Sale of Minera Mariana Argentina S.A.
Closing of Sale of Minera Mariana Argentina S.A. Canada NewsWire VANC...
About this update from Capella Minerals Limited
[{"type":"text","content":"\n \n \n \n Closing of Sale of Minera Mariana Argentina S.A.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 25, 2021\n \n /CNW/ - Capella Minerals Ltd. (TSXV: CMIL) (FRA: N7D2) (the \"Company\" or \"Capella\") is pleased to advise that, further to the Company's news release of\n \n January 7, 2021\n \n , the Company has now completed and closed the sale of its 100% interest in its Argentine subsidiary,\n \n Minera Mariana Argentina S.A\n \n . (\"Minera Mariana\"), to Cerrado Gold Inc. (\"Cerrado\") (the \"Transaction\").\n \n Minera Mariana\n \n is the owner of the Las Calandrias and Los Cisnes gold-silver projects, in addition to a portfolio of exploration concessions located in the Eastern Deseado Massif,\n \n Santa Cruz Province\n \n , southern Argentina. The terms of the Transaction were announced in the Company's News Release dated\n \n October 28, 2020\n \n .\n \n \n Under the terms of the Transaction, Capella received 1,125,000 Cerrado shares on closing. The Company transferred 562,500 of the Cerrado shares to Sandstorm Gold Limited (TSX:SSL; NYSE:SAND)(\"Sandstorm\") in consideration of the extinguishment of the annual maintenance payments of the Company owing to Sandstorm in respect of the Las Calandrias and Los Cisnes projects under a share purchase agreement dated\n \n February 19, 2018\n \n as amended and assigned.\n \n \n \n Eric Roth\n \n , Capella's President and CEO, commented today: \"With the closing of the sale of\n \n Minera Mariana S.A\n \n ., Capella has now become a shareholder of Cerrado and holds indirect exposure to new exploration success on both its\n \n Santa Cruz\n \n (\n \n Minera Don Nicolas\n \n gold-silver mine and Las Calandrias gold project) and Brazilian (Monte do Carmo) gold projects. The Cerrado shareholding also complements the Company's Ethos Gold Corp. shareholding, which was acquired through the\n \n Savant Lake\n \n earn-in agreement and which also provides Capella shareholders with exposure to growth outside of discovery success on its own high-q...