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Guanajuato Silver Company to Acquire 100% of Great Panther’s Mexican Mining Assets
~Arranges US$14.0M Debt and Equity Financing ~ VANCOUVER, British Columbia, June 29, 2022 (GLOBE NEWSWIRE) -- Guanajuato Silver Company Ltd. (the "Company" or "
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":" ~Arranges US$14.0M Debt and Equity Financing ~ VANCOUVER, British Columbia, June 29, 2022 (GLOBE NEWSWIRE) -- Guanajuato Silver Company Ltd. (the \"Company\" or \"GSilver\") (TSXV:GSVR) is pleased to announce that it has signed a binding definitive agreement with Great Panther Mining Ltd. (\"Great Panther\") (TSX:GPR) to acquire all of Great Panther’s Mexican assets through the purchase of Great Panther’s Mexican subsidiary, Minera Mexicana Rosario S.A. de C.V. (“MMR”), including the producing Topia mine and production facility, the San Ignacio mine, the Guanajuato Mine Complex (“GMC”) and the Cata processing plant (the “MMR Acquisition”). GSilver will henceforth refer to GMC as the Valenciana mine (“Valenciana”). Highlights: GSilver’s operations will expand from two mines and one production facility to five mines and three production facilities. The acquisition includes the Topia mine, located in Durango, Mexico which is currently producing concentrates containing silver, lead, zinc, and gold. Significant lead financing orders have been confirmed from Ocean Partners (UK) Ltd. and from an affiliate of OCIM Metals and Mining (“OCIM”). 2021 total silver equivalent production at Topia was 1,129,611 Ag Eq ounces. (1) 2021 total silver equivalent production at the Valenciana and San Ignacio mines and Cata processing plant was 1,051,336 AgEq ounces. (1) Total consideration of USD$14.7M; satisfied by US$6,700,000 in GSilver Shares and US$8,000,000 in cash (see debt and equity financing details below) The transaction Includes the following historical measured, indicated and inferred resources: Valenciana and San Ignacio – Effective Date: July 31, 2021 Class Tonnes Ag (gpt) Ag (oz) Au (gpt) Au (oz) AgEq (gpt) AgEq (oz) Valenciana Measured and Indicated 251,666 250 2,021,193 1.76 14,280 400 3,235,029 Inferred 220,760 225 1,597,357 1.95 13,873 391 2,776,595 San Ignacio Measured and Indicated 267,828 145 1,248,734 2.80 24,106 384 3,302,726 Inferred 445,217 178 2,551,719 2.65 38,002 404 5,781,944 Combined Measured and Indicated 519,493 196 3,269,927 2.30 38,386 391 6,537,755 Inferred 665,977 194 4,149,076 2.42 51,876 400 8,558,540 Topia mine – Effective Date: March 31, 2021 Class Tonnes Ag (gpt) Ag (oz) Pb (%) Zn (%) AgEq (gpt) AgEq (oz) Measured and Indicated 331,800 609 1.84 4.40 4.50 1,041 11,107,000 Inferred 274,600 592 1.44 3...