VANCOUVER, BC, Oct. 7, 2022 /CNW/ – Regency Silver Corp. (“Regency Silver” or the “Company”), (TSXV: RSMX) (OTCQB: RSMXF) is pleased to announce that it has entered into an option exercise agreement (the “Agreement”) with Minera Pena Blanca, S.A. de C.V. (“Minera Pena”) pursuant to which Minera Pena has agreed to waive the last exploration expenditure of US$250,000 required to exercise the option for a 100% interest in the Dios Padre property in Mexico. Consideration for the early exercise is the issuance of 300,000 common shares in the capital of the Company (the “Common Shares”) at a deemed price of $0.245 per share. The completion of the transactions contemplated by the Agreement remains subject to all regulatory approvals, including the approval of the TSX Venture Exchange (the “Exchange”) which must be obtained by October 20, 2022. The Common Shares to be issued in connection with the Agreement will be subject to a four month hold period from the date of issue in accordance with applicable securities legislation.
The Company is also pleased to announce that the Exchange has accepted the Company’s engagement of M Partners Inc. in accordance with the terms and conditions of an Engagement Letter dated July 25, 2022 and pursuant to which M Partners Inc. will provide the Company with ongoing advisory services. In consideration of the services, the Company has agreed to issue M Partners Inc. an aggregate of 500,000 Common Shares at a deemed price of $0.10 per share. The Common Shares will be subject to a four month hold period from the date of issue in accordance with applicable securities legislation.
ABOUT REGENCY SILVER CORP.
Regency Silver is a silver and gold exploration company focused on the Americas. Regency Silver is led by a team of experienced professionals with expertise in both exploration and production. Regency Silver’s flagship project is the Dios Padre silver project in Sonora, Mexico.
For further details about the Company please visit www.Regency-Silver.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
This news release includes certain forward-looking statements and forward-looking information (together, “forward-looking statements”). There can be no assurance that such statements will prove to be accurate and actual results and future events may vary from those anticipated in such statements. Important risk factors that could cause actual results to differ materially from the Company’s plans or expectations include the risk that Exchange acceptance of the Agreement, including the issuance of the Common Shares, will not be obtained, regulatory changes, fundraising risks, and risks associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management. The forward-looking statements in this news release were developed based on the expectations of management, including that Exchange acceptance for the proposed transaction will be obtained, conditions will be satisfied, required fundraising will be completed and the other risks described above will not materialize. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
SOURCE Regency Silver Corp.
Original Article: https://www.newswire.ca/news-releases/regency-silver-announces-early-exercise-of-100-interest-in-the-dios-padre-property-868293137.html
