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Goldgroup Enters Into Agreement To Sell Subsidiary Minera Apolo, S.A. de C.V., Disposing of Pinos Project
VANCOUVER, BC / ACCESS Newswire / December 31, 2025 / Goldgroup Mining Inc. (" Goldgroup " or ...
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"Goldgroup Enters Into Agreement To Sell Subsidiary Minera Apolo, S.A. de C.V., Disposing of Pinos ProjectVANCOUVER, BC / ACCESS Newswire / December 31, 2025 / Goldgroup Mining Inc. (\"Goldgroup\" or the \"Company\") (TSXV:GGA)(OTCQX:GGAZF).Goldgroup announces that, subject to the final approval of the TSX Venture Exchange (the \"TSXV\"), it has entered into an agreement with a private arm's length British Columbia company under which it has agreed to sell all of the issued and outstanding Class \"A\" shares and Class \"B\" common shares in the capital (collectively the \"Apolo Shares\") of Minera Apolo, S.A. de C.V. (\"Apolo\"), which owns all the issued and outstanding shares of Minera Catanava, S.A. de C.V. (\"MC\"). Apolo and MC collectively hold a 100% interest in the Pinos gold/silver project (\"Pinos\") located in Zacatecas State, the second largest mining state in Mexico. Pinos comprises 30 contiguous mining concessions over 3,816 hectares. The sale of Apolo is an Arm's Length Transaction and there are no finder's fees payable.Ralph Shearing, Chief Executive Officer, commented: \"Having received an unsolicited bid for Pinos, management determined that it would be the best use of the Company's resources to dispose of the Pinos asset based on the Company's recent acquisition of the San Francisco gold mine, which is a much larger and more advanced project than Pinos. The Company's focus will be the continued development and optimization of our flagship Cerro Prieto heap-leach gold mine and advancing towards a re-start of gold production at the San Francisco gold mine (see news release dated December 24, 2025). Both assets are located within 44km in a straight line from each other in the state of Sonora, Mexico. The San Francisco gold mine represents a unique opportunity to consolidate a highly prospective gold district.\" Mr. Shearing further stated: \"At this stage of our Company's development, with Pinos being a non-core asset, management and the board of directors has elected to monetize Pinos with an attractive, high cash purchase offer, deploying the sale proceeds towards Cerro Prieto optimization and re-starting gold production at San Francisco.Under the terms of the Share Purchase Agreement, Goldgroup has agreed to sell all the Apolo Shares to a private arm's length British Columbia company (the \"Purchaser\") in cons...