Vangold Mining Corp.: VanGold Closes El Cubo Acquisition
VANCOUVER, BC / ACCESSWIRE / April 12, 2021 / VanGold Mining Corp (the "
Company" or "
VanGold") (TSXV:VGLD) is pleased to announce it has closed the acquisition of the El Cubo Mine and Mill complex (the "
El Cubo Complex") from Endeavour Silver Corp. ("
Endeavour") (EXK) (EDR) located 8km by road northeast of the Company's El Pinguico silver-gold project near the city of Guanajuato, Mexico.
Closing the El Cubo Acquisition:
On March 16, 2021 the Company signed a definitive asset purchase agreement with Endeavour (the "
Endeavour Agreement") to acquire the El Cubo Complex, finalizing the binding letter agreement entered into between VanGold and Endeavour in mid-December 2020. VanGold and Endeavour closed the purchase and sale of the El Cubo Complex on April 9, 2021, with the execution of customary closing documents in Mexico and Canada, and with the payment to Endeavour of US$7,000,000 cash, plus applicable Mexican VAT of US$1,275,200, and the delivery to Endeavour of 21,331,058 shares of VanGold.