Vangold Mining Corp.: Robert Sedgemore Engaged as Director of Mill Commissioning
Company or
VanGold ) (TSXV:VGLD) is pleased to announce that Robert Sedgemore has joined the VanGold team in Guanajuato, Mexico as Director of Mill Commissioning.
As VanGold moves swiftly to placing its recently purchased El Cubo mill back into production, the Company has identified and retained a number of key personnel who will help lead our team on the ground. These three important hires are just some examples that exemplify VanGold s desire to attract top talent from all mining disciplines, with an emphasis on hiring locally wherever possible and appropriate.
Robert Sedgemore Engaged as Director of Mill Commissioning
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Robert Sedgemore Engaged as Director of Mill Commissioning
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(TSX: EDR, NYSE: EXK) (“
Endeavour”) announces that it has now closed the sale of the El Cubo Mine in Guanajuato, Mexico to VanGold Mining Corp. (“
VanGold”) for $15 million in cash and share payments plus up to $3 million in future contingent payments (all dollar amounts in US dollars unless otherwise noted) (the “
Transaction”).
$7.5 million cash on closing.
$5.0 million (C$6,399,317.40) in VanGold common shares (“
VanGold Shares”) on closing, priced at $0.2344 (C$0.30) per VanGold Share for a total of 21,331,058 VanGold Shares (“
Consideration Shares”) representing approximately 10.9% of the issued and outstanding VanGold Shares.
$2.5 million promissory note due 12 months from closing.
VanGold has also agreed to pay Endeavour up to an additional $3,000,000 in contingent payments based on the following: