Golden Minerals Company (the “Company”) is pleased to announce it has settled the previously reported dispute with Unifin Financiera, S.A.B. de C.V. (“Unifin”). Settlement information was filed today with the Securities and Exchange Commission in a Form 8-K, a copy of which is available on the company’s website at https://www.goldenminerals.com/financials-filings/sec-filings/.
On December 6, 2023, the parties to the previously disclosed lawsuit between Minera William, S.A. de C.V. (“Minera William”) (a Mexican subsidiary of the Company) and Unifin entered into a settlement agreement to resolve the dispute. The lawsuit relates to Unifin’s allegations that a representative of Minera William signed certain documents in July 2011 purporting to bind Minera William as a guarantor of payment obligations owed by a third party to Unifin.
On December 6, 2023, Minera William and Unifin filed a joint motion to notify the court that they entered into a settlement agreement. Under the terms of the agreement, Minera William has agreed to pay US$250,000 to Unifin and Unifin has agreed to release Minera Williams from any future claim related to the dispute.
The settlement agreement is subject to court approval. The Company anticipates, subject to court approval, that the settlement amount will be paid at the end of 2023 or early 2024.
The information in the filed Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation, including the expected timing of the payment of the Settlement Agreement. These statements are subject to a number of known and unknown risks and uncertainties that could cause actual results, conditions and events to differ materially from those anticipated. The Company assumes no obligation to update this information. Additional risks relating to the Company may be found in the periodic and current reports filed with the SEC by the Company, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
For additional information, please visit http://www.goldenminerals.com/ or contact:
Golden Minerals Company
Karen Winkler, Director of Investor Relations
(303) 839-5060
[email protected]
About Golden Minerals
Golden Minerals is a gold and silver mining company based in Golden, Colorado. The Company is primarily focused on resuming production at its Velardeña Properties and advancing its Yoquivo property in Mexico, and, through partner-funded exploration, advancing its El Quevar silver property in Argentina. The Company is also focused on acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.
