News
VVC Exploration amendments to Samalyuca agreements
2020-11-09 16:53 ET - Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to amendments to Samalayuca share purchase option agreements dated Aug. 24, 2020, and Aug. 31, 2020, and the Samalayuca share purchase and sale agreement dated Sept. 23, 2020, among the company and several arm's-length parties, whereby the company will acquire the remaining 67-per-cent interest in Samalayuca Cobre S.A. de C.V., which owns a copper prospective property known as the Kaity claims, located in Chihuahua state in Mexico.
Under the terms of the agreements, the company has agreed to acquire the Samalayuca by paying an aggregate of $750,000 (U.S.) in cash and issuing up to 27.2 million common shares and 32.5 million common share purchase warrants, with each warrant exercisable into one common share at six cents per share for a period of five years.
For more information, please refer to the company's news releases dated Sept. 1, 2020, Sept. 28, 2020, and Nov. 3, 2020.
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