Amended Lease Agreements New Right to Repurchase Half of Production Royalty on Important Portions of the Project
Vancouver, British Columbia--(Newsfile Corp. - March 23, 2022) - Summa Silver Corp. (TSXV: SSVR) (OTCQB: SSVRF) (FSE: 48X) ("Summa" or the "Company") is pleased to announce, subject to final approval from the TSX Venture Exchange (the "TSXV"), the Company will issue an aggregate of 27,400 common shares pursuant to two previously entered into amended and restated mining lease agreements (collectively, the "Amended Lease Agreements"). The common shares are being issued at a deemed value of $1.24 per common share, being the 20-day volume weighted average price of the Company's common shares as traded on the TSXV. Such payments represent the first of ten annual payments due pursuant to the Amended Lease Agreements. The Amended Lease Agreements relate to mining claims which form part of the Mogollon property near Silver City, New Mexico.
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