Oro X and Mines and Metal Trading (Peru) PLC Announce Business Combination to Create Silver X Mining Corp.

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[{"type":"text","content":"\n \n \n \n Oro X and Mines and Metal Trading (Peru) PLC Announce Business Combination to Create Silver X Mining Corp.\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES/\n \n \n \n \n \n Creates new growth-focused silver producer in\n \n Peru\n \n \n \n \n \n Multi-asset company led by team with proven track record\n \n \n \n \n Concurrent minimum\n \n C$14,000,000\n \n financing to fund\n \n 30,000 m\n \n exploration and development drilling campaign at Nueva Recuperada project\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Feb. 11, 2021\n \n /CNW/ -\n \n \n ORO\n \n X MINING CORP.\n \n (TSX-V: OROX) (OTC Pink: WRPSF)\n \n \n (\"\n \n Oro X\n \n \" or the \"\n \n Company\n \n \") and Mines and Metals Trading (\n \n Peru\n \n ) PLC (\"\n \n MMTP\n \n \", also commercially known as\n \n \"Latitude Silver\"\n \n ) are pleased to announce the signing of a business combination agreement (the \"\n \n Business Combination Agreement\n \n \"). Pursuant to the Business Combination Agreement, Oro X will acquire 100% of the issued and outstanding shares of MMTP (the \"\n \n Transaction\n \n \").\n \n \n \n \n \n \n \n \n \n With a team led by CEO\n \n Jose Garcia\n \n , Executive Chairman\n \n Luis Zapata\n \n , and Lead Advisor\n \n Paul Matysek\n \n , Silver X will be\n \n Latin America's\n \n next low-cost silver producer. The combination of Oro X's and MMTP's teams, assets and operational experience creates a growth-focused platform primed to consolidate the fragmented Peruvian silver landscape.\n \n \n Upgrading and expanding MMTP's Nueva Recuperada inferred resource pursuant to a NI 43-101 Technical Report for Recuperada Project,\n \n Peru\n \n with an effective date of\n \n October 15, 2020\n \n (the \"\n \n Recuperada\n \n \n Technical Report\n \n \"), from 7.3 million tonnes (Mt) at 130.38 g/t Ag and increasing processing capacity beyond 600 tpd at the operating plant has th...

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