Shawn Howarth, President and CEO of Excellon, commented, “We are pleased to reach an agreement with Debentureholders. The restructuring announced today reduces debt with zero cash outlay and minimal equity dilution. We also thank Debentureholders, who have invested significant capital to support Excellon and continue to believe in the long-term potential of the Company.”
Management believes that share consolidation is necessary to provide the Company with a share structure that will better attract capital financing and that will provide for future growth opportunities.
Ernesto Balarezo Valdez, Sierra Metals’ CEO, stated, “Earlier this year, the Company deemed the Cusi silver mine a non-core asset and given current market conditions has made the difficult decision to put the mine on care and maintenance. In efforts to crystalize value for shareholders we have a process underway to sell Cusi.”
Shareholders approved all matters brought before the Meeting, including re-appointing Davidson & Company LLP, Chartered Professional Accountants, as the Company’s auditor and approving the continued use of the Company’s Omnibus Plan. In addition, Marcio Fonseca, Eric Zaunscherb, Fernando Berdegué de Cima, Larry Taddei, and Trevor Woolfe were all re-elected as directors for the ensuing year.
“This is a major milestone as we advance towards full ownership of Pilar and consolidate the district with its exciting gold and silver potential,” stated Brodie Sutherland, CEO.
Radius Gold Inc. is pleased to provide an update on drilling at its Tropico Project located in the Fresnillo mining district in Zacatecas, Mexico.
Southern Empire Resources Corp. announces that it has received permitting from the Secretaría del Medio Ambiente y Recursos Naturales for 30 exploration drill hole sites at its Centauro Gold Project located in the State of Chihuahua, México.
Equinox Gold Corp. announces that it has entered into an agreement with BMO Capital Markets, on behalf of itself and the other initial purchasers pursuant to which the Initial Purchasers have agreed to buy, on a bought deal basis, 4.75% unsecured convertible senior notes due 2028 in an aggregate principal amount of $150 million.
As previously announced May 10, 2023, Silver Valley entered discussions with LitioMX, (the national lithium company of Mexico), with the goal of these discussions to ultimately formalize a partnership agreement to explore and produce lithium in Mexico. Silver Valley maintains its 100% ownership of the Potassium Sulphate component of the dual commodity MexiCan Lithium-Potassium Project.
Ms. Shane brings decades of experience in capital markets, corporate development and investor relations to Luca following a career spanning nearly 30 years at the highly successful Lundin Group of Companies.
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