TSX Venture has approved the 75% Promontorio transactionKootenay said in the Feb. 26/16 update NR that they expected the close to occur in the first half of March. We could see the closeout news release as early as this upcoming week, now that the TSX Venture has already approved the deal.
Here is the TSX Venture approval notification, from today`s TSX Venture Exchange Daily Bulletins Report:
``KOOTENAY SILVER INC. ("KTN")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: March 4, 2016
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing an option agreement (the "Option") dated February 15, 2016among Kootenay Silver Inc. (the "Company"), the Company's wholly owned subsidiary Minera JM, S.A. de C.V. ("Minera") and Pan American Silver Corp. ("Pan American") and Pan American's wholly owned subsidiary Compania Minera Dolores S.A. de C.V. ("Dolores"). Minera has granted to Dolores the Option to earn a 75% interest in Minera's Mineral Belt silver properties (including the Promontorio and La Negra deposits) in consideration for cash payments totaling US$8,050,000, work expenditures of US$8,000,000 from Dolores to Minera, over a 4 year earn-in period and a carried interest to production.
For further information please see the Company's news release dated February 16, 2016 and March 4, 2016.``