Mexican business unit sale. A few Questions
Florida Canyon Gold Inc. stated objective is to leverage the value of its portfolio of assets and manage risk. What were the risk? What were the potential cost of these risk?
Heliostar will pay cash consideration of US$5 million to the Corporation
Corporation is entitled to cash generated by the Mexican Business Unit prior to July 11, 2024. How much cash was generated prior to July 11, 20024? FYI in Q1/2024 they sold 12,122 ounces of gold.
Cash of US$5 million generated from operating cash flow after July 16, 2024.
So are we looking at $15M - $20M for the deal? Did Florida Canyon Gold Inc. new management team dump assets that were high risk and would be a financial drain on the new company?
Hopefully we will soon get some answers.