Telson Resources Inc. Announces Closing of the Purchase of the Campo Morado Mine, Guerrero State, Mexico from Nyrstar Mining Ltd.

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[{"type":"text","content":"Telson Resources Inc. Announces Closing of the Purchase of the Campo Morado Mine, Guerrero State, Mexico from Nyrstar Mining Ltd.(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / June 14, 2017 - Telson Resources Inc. (\"Telson\" or the \"Company\") (TSX Venture - TSN.V) is pleased to announce that it has received final TSX Venture Exchange (\"TSXV\") approval for and has closed its acquisition of the Campo Morado mine, located in Guerrero State, Mexico (the \"Campo Morado Mine\"). Further to its news release of April 27, 2017, Telson has closed the Share Purchase Agreement, as amended (the \"Agreement\") with Nyrstar Mining Ltd. and Nyrstar Mexico Resources Corp. (collectively \"Nyrstar\") and has purchased all of the shares of Nyrstar's Mexican subsidiary companies that make up and own 100% of the Campo Morado Mine, such that these subsidiary companies are now wholly-owned subsidiaries of Telson.\n\n \n \nUnder the terms of the Agreement, Telson will pay a total purchase price of US$20 million plus any Variable Purchase Price. US $800,000 was paid at signing of the Agreement, US $2.0 million was paid immediately before today's closing, US $700,000 is due by June 30, 2017 and US $16.5 million is due by June 13, 2018, as the anniversary of closing.\n\n\n \nNyrstar also retains the right to receive a Variable Purchase Price on future zinc production on the first 10 million tons of ore processed by Telson at the Campo Morado Mine when the price of zinc is at or above US $2,100 per tonne. Telson shall pay Nyrstar the greater of either of (a) or (b) below:\n\n\n \n\n\n\n\n\n\n(a)US$20 per tonne of zinc sold if the zinc price received is over US$2,100 per tonne; or \n\n\n\n(b)a percentage of the Net Smelter Revenue received from zinc from the Campo Morado Mine based upon the following: \n\n\n\n\n\n(i)if the zinc price received is greater than US$2,100 per tonne and less than or equal to US$2,200 per tonne, then 0.5% of the Net Smelter Revenue; \n\n\n\n(ii)if the zinc price received is greater than US$2,200 per tonne and less than or equal to US$2,300 per tonne, then 1.5% of the Net Smelter Revenue; \n\n\n\n(iii)if the zinc price received is greater than US$2,300 per tonne and less than or equal to US$2,400 per tonne, then 2.5% of the Net Smelter Revenue; \n\n\n\n(iv)if the zinc price received is greater than US$2,40...

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