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SANTACRUZ ANNOUNCES DEFINITIVE AGREEMENTS AMENDING TERMS OF SALE OF GLENCORE'S BOLIVIAN MINING ASSETS
SANTACRUZ ANNOUNCES DEFINITIVE AGREEMENTS AMENDING TERMS OF SALE OF GLENCORE'S BOLIVIAN MINING AS...
About this update from Santacruz Silver Mining Ltd.
[{"type":"text","content":"\n\n\n\n SANTACRUZ ANNOUNCES DEFINITIVE AGREEMENTS AMENDING TERMS OF SALE OF GLENCORE'S BOLIVIAN MINING ASSETS\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\n VANCOUVER, BC\n \n\n ,\n \n\n Oct. 4, 2024\n \n\n /CNW/ -\n \n Santacruz Silver Mining Ltd.\n \n (TSX.V:SCZ) (\"\n \n Santacruz\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that further to its news release dated\n \n April 4, 2024\n \n , it is has entered into a definitive omnibus agreement (the \"\n \n Omnibus Agreement\n \n \") and an amended and restated omnibus security agreement (the \"\n \n Omnibus Security Agreement\n \n \" and together with the Omnibus Agreement, the \"\n \n Definitive Agreements\n \n \"), each with an effective date of\n \n October 3, 2024\n \n , with certain Glencore entities (\"\n \n Glencore\n \n \") to amend certain transaction documents in connection with the prior sale by Glencore of its Bolivian mining assets to Santacruz (the \"\n \n Transaction\n \n \"), as previously announced by Santacruz on\n \n March 21, 2022\n \n and\n \n October 13, 2021\n \n . The Definitive Agreements are the result of arm's length negotiations between Santacruz and Glencore and supersede the binding term sheet entered into between the parties dated\n \n March 28, 2024\n \n .\n \n\n\n\n\n\n\n\n\n\n Arturo Prestamo\n \n , Executive Chairman and CEO, commented; \"This agreement marks a significant milestone for Santacruz, providing us with enhanced financial flexibility as we move forward with our strategic plans. The revised payment structure allows us to better manage our cash flow while maintaining the ability to accelerate payments if it becomes beneficial to do so. We are also pleased to maintain our strong partnership with Glencore, whose collaboration has been invaluable in reaching these mutually beneficial terms. We look forward to continuing this productive relationship as we execute on our vision for the future.\"\n \n\n Pursuant to the Definitive Agreements, Santacruz and Glencore have agreed to the following terms:\n \n\n\n The tot...