Pursuant to an option agreement dated August 7, 2020 between First Majestic and Silver Dollar, First Majestic has acquired ownership and control of 5,146,401 Shares, representing approximately 14.9% of the outstanding Shares.
“We are pleased to welcome Peter Jones as the new Chairman of Reyna Silver. He brings a tremendous amount of experience over a long and successful career which will be critical as we grow.”
The proceeds from the Private Placement are expected to be used by the Company to purchase underground equipment for its Zimapan property and for general working capital and corporate purposes.
The Copper Mark is a new, comprehensive assurance framework that demonstrates the industry’s responsible production practices and contribution to the United Nations Sustainable Development Goals (SDGs).
Riverside’s President and CEO, John-Mark Staude, stated: “Riverside is working hard with Carlyle as its partner at the Cecilia Project. Our geologists and operational team have done a fine job technically managing the program during these COVID times to complete safe and effective work. The high-grade samples crossing high level structures could point to wider potential targets below and we look forward to drilling at San Jose and North Breccia in the near future.”
The royalties provide exposure to five flagship gold assets owned and operated by growth-oriented mining companies. The portfolio includes royalties on Camino Rojo and Ana Paula in Mexico, Cerro Blanco in Guatemala, and Mother Lode and Imperial in the United States.
Dan O’Flaherty, CEO of Maverix, commented, “This transaction marks another important milestone in our continued growth at Maverix.”
Chris Wright, Executive Chairman & CEO, commented: “We want to thank our capital partners for their support of Defiance. The loan enabled us to minimize shareholder dilution during a tough market, while the proceeds from our recently closed financing have enabled us to repay the debt and have sufficient working capital moving forward.”
Morgan Good, Chief Executive Officer of Carlyle, commented, “Carlyle is very excited with the high-grade assay results thus far at Cecilia confirming historical numbers produced by Riverside. They show excellent gold values and strong continuity while crossing high level structures which is extremely encouraging as we await further assays and continue preparing for our upcoming drill campaign at the North Breccia and San Jose targets.”
Mr. Jonathan George, CEO, commented “We are very pleased and excited with these positive drill results which suggest a potentially large intrusion-related mineralized system, emplaced in multiple phases as evidenced by the variability in gold and copper content from hole to hole.”
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