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Minsud Exercises Option to Acquire 100% of the Brechas Vacas Property
Minsud Exercises Option to Acquire 100% of the Brechas Vacas Property Canada Ne...
About this update from Minsud Resources Corp.
[{"type":"text","content":"\n \n \n \n Minsud Exercises Option to Acquire 100% of the Brechas Vacas Property\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 TSX-V:\n \n MSR\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 7, 2021\n \n /CNW/ -\n \n Minsud Resources Corp.\n \n (TSXV: MSR)\n \n (\"Minsud\" or the \"Company\")\n \n is pleased to announce that\n \n Minera Sud Argentina S.A\n \n . (\"\n \n MSA\n \n \"), the Company's Argentine indirect subsidiary, has exercised its option to purchase the remaining 50% beneficial interest in the Brechas Vacas Trust, and has become the indirect owner of 100% of the Brechas Vacas property. The Brechas Vacas property represents one of the main properties in the Company's flagship Chita Valley Project.  MSA has paid the required sum of\n \n US$735,000\n \n to the Brechas Vacas owners representing the price to fully exercise the option, which was settled in Argentinean pesos.\n \n \n On\n \n September 7, 2007\n \n , MSA entered into an exploration agreement including a purchase option (the \"\n \n Initial Brechas Vacas Agreement\n \n \") with the owners of the mining properties (the \"\n \n Brechas Vacas owners\n \n \") identified as Proyecto Brechas Vacas, located in the Chita Valley, in the Province of San Juan, Argentina (the \"\n \n Brechas Vacas property\n \n \"). In addition to the exploration rights, the Brechas Vacas owners granted to MSA, an irrevocable and exclusive option to purchase a 50% ownership interest in the property.\n \n \n On\n \n September 6, 2011\n \n , MSA exercised its option to purchase a 50% ownership interest in the Brechas Vacas property for consideration of\n \n US$210,000\n \n . Subsequent to exercising this option, the ownership of the Brechas Vacas property was transferred by the Brechas Vacas owners to the Brechas Vacas Trust and MSA simultaneously acquired a 50% beneficial interest in the Brechas Vacas Trust.  The remaining 50% beneficial interest in the Brechas Vacas Trust held by the Brechas Vacas owners was subject to a new exclusive and irrevocable purchase option agreement (the ...