MX Gold Corp. (
TSX: V.MXL,
OTXQX: MXLGF,
Forum) said Friday it has signed a letter of intent to acquire all the shares of Symple Internet Financial Ltd., an arm’s length cryptocurrency/blockchain mining company, based in Manitoba.
Under the proposed transaction, the company has agreed to pay $150,000 and issue 4.5 million shares to the shareholder of Symple. The principal shareholder of Symple would also receive $8,000 per month for a minimum term of 12 months as compensation under a consulting agreement.
More details can be found
here.
MX Gold was in the news recently when it released an update on a plant expansion buildout that aims to increase the throughput capacity at the Magistral Project in Mexico to 1,000 tonnes per day.
The Magistral del Oro tailings project is located 392 kilometres southwest of Chihuahua in Mexico. The company is working in a joint venture with
GracePoint Mining Corp. (
OTC PINK: FRMA,
Forum)
Full Disclosure: MX Gold Corp.
is a paid client of Stockhouse Publishing.