Santacruz Silver Mining Ltd.: Santacruz Provides Update on Zimapan Acquisition
Santacruz Silver Mining Ltd. (TSXV: SCZ) (the
Company or
Santacruz ) announces that the acquisition of the Zimapan mine assets from Minera Cedros, S.A. de C.V. ( Minera Cedros ), together with the US$17.6 million loan facility from Trafigura Mexico, S.A. de C.V. (the Trafigura Loan Facility ), are now expected to close on or about April 23, 2021.
Pursuant to the definitive purchase agreement dated February 24, 2021 (the Purchase Agreement ) between the Company s wholly-owned subsidiary, Carrizal Mining, S.A. de C.V. ( Carrizal ), and Minera Cedros, closing of the acquisition of the Zimapan mine, including payment by Carrizal of US$15 million of the purchase price, is required to occur within 60 days of the date of the Purchase Agreement, being April 26, 2021. The US$15M payment will be funded by the Trafigura Loan Facility. The balance of the total US$20 million (plus applicable Mexican Value Ad
Santacruz Silver Mining Ltd.: Santacruz Provides Update on Zimapan Mine Acquisition and Related Debt Financing, and Private Placement With A Lead Order From Palisades Goldcorp
Santacruz Silver Mining Ltd. (TSXV: SCZ) (FSE: 1SZ) (the
Company or
Santacruz ) announces that the acquisition of the Zimapan mine assets from Minera Cedros, S.A. de C.V. ( Minera Cedros ), together with the US$17.6 million loan facility from Trafigura Mexico, S.A. de C.V. (the Trafigura Loan Facility ), are now expected to close on or before April 16, 2021. These transactions were last described in the Company s news release dated February 25, 2021.
Pursuant to the definitive purchase agreement dated February 24, 2021 (the Purchase Agreement ) between the Company s wholly-owned subsidiary, Carrizal Mining S.A. de C.V. ( Carrizal ), and Minera Cedros, closing of the acquisition of the Zimapan mine, including payment by Carrizal of US$15 million of the purchase price, is required to occur within 60 da
Santacruz Silver Enters Definitive Agreement to Acquire the Zimapan Mine and Arranges Financing For Transaction
Santacruz Silver Mining Ltd. reports that its wholly-owned subsidiary, Carrizal Mining S.A. de C.V. has entered into a definitive agreement with Minera Cedros, S.A. de C.V. a wholly owned subsidiary of Industrias Peñoles, S.A.B. de C.V., to acquire the Zimapan property and related assets located in Zimapan, Hidalgo State, Mexico for total consideration of US$20 million . The P&S Agreement supersedes the term sheet …
Santacruz Silver Mining Ltd. (TSXV: SCZ) (OTC: SZSMF) (FSE: 1SZ) (the “Company” or “Santacruz”) reports that its wholly-owned subsidiary, Carrizal Mining S.A. de C.V. (“Carrizal”), has entered into a definitive agreement (the “P&S Agreement”) with Minera Cedros, S.A. de C.V. (“Minera Cedros”), a wholly owned subsidiary of Industrias Peñoles, S.A.B. de C.V., to acquire (the “Acquisition”) the Zimapan property and related assets (the
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