MEXUS GOLD US (OTCMKTS:MXSG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
Entry into a Material Definitive Agreement.
Effective January 13, 2017, Mexus Gold Mining, S.A. de C.V., a wholly owned Mexican subsidiary of the Company (“Mexus”), entered into a purchase agreement with Jesus Leopoldo Felix Mazon, Leonardo Elias Jaime Perez, and Elia Lizardi Perez, wherein Mexus purchased a 50% interest in the “San Felix” mining site located in the La Alameda area of Caborca, State of Sonora, Mexico. The remaining 50% of the site is owned jointly by Mar Mar Holdings S.A. de C.V. and Marco Antonio Martinez Mora.
The San Felix mining site contains seven (7) concessions over an area of approximately 26,000 acres.
The total purchase price is US$2,000,000 of which Mexus is 50% responsible. The required payment schedule is a follows: US$150,000 by January 30, 2017, US$500,000 by August 13, 2017, US$500,000 by March 13, 2018, US$500,000 by October 13, 2018, and US$300,000 by May 13, 2019.
About MEXUS GOLD US (OTCMKTS:MXSG)
Mexus Gold US is an exploration-stage mining company. The Company is engaged in the evaluation, acquisition, exploration and advancement of gold, silver and copper projects in the State of Sonora, Mexico and the Western United States, as well as the salvage of precious metals from identifiable sources. The Company also engages in the salvage of precious metals from identifiable sources. Its mining opportunities located in the State of Sonora, Mexico, focuses on providing the Company with projects to recover gold, silver, copper and other precious metals. The Company classifies mineral properties into three categories: Development Properties, Advanced Exploration Properties and Other Exploration Properties. The Company’s Other Exploration Properties consist of its various mining properties located in Mexico, which include Santa Elena Prospect, Ocho Hermanos-Guadalupe de Ures Project, 370 Area, El Scorpion Project Area and Los Laureles.
Original Article: https://marketexclusive.com/mexus-gold-us-otcmktsmxsg-files-an-8-k-entry-into-a-material-definitive-agreement/70985/
