We are pleased to take this opportunity to reflect on the period from January 2016 and to consider the progress Arian has made across the period, during which time we positioned the Company to strengthen the balance sheet and extinguished all loans. We also de-listed from the TSX Venture stock exchange to reduce our regulatory overheads and better reflect the UK-centricity of our shareholder base.
Pursuant to agreements between Monarca and certain of its creditors, an aggregate of $463,058.10 in debt was settled through the issuance of 3,561,985 common shares of Monarca at a deemed price $0.13 per Common Share.
The net proceeds of the Private Placement will be used by Silver Bull for general working capital purposes and exploration of the Sierra Mojada Project. The Company has agreed to pay aggregate cash commissions of CDN$93,100 and issue an aggregate of 1,163,750 non-transferable common share purchase warrants, subject to approval of the TSX. Each Finders’ Warrant entitles the holder to acquire one Common Share for CDN$0.10 until the second anniversary of closing of the Private Placement.
Kiran Patankar, Geologix’s President and Chief Executive Officer, commented: “We are delighted with the success of the Financing, which was strongly supported by both existing and new shareholders. Our technical team has recently completed field work that will be used in conjunction with ongoing data interpretation to evaluate geological and structural controls on porphyry gold and copper mineralization at Tepal and, importantly, test the high-grade potential immediately beneath the current South Zone pit. We look forward to providing ongoing updates on our exploration activities and refreshed corporate strategy in the coming months.”
At the Meeting, all director nominees listed in the Companys management information circular dated May 11, 2017, were elected as directors of the Company.
MX Gold Corp. is pleased to announce that, further to its February 13th and April 28th news releases, the Company has paid the remaining amounts due totaling US$450,000 to American Metal Mining S.A. de C.V. as required under the Framework Agreement dated February 6, 2017, as amended, thereby acquiring 50% of the shares of Inversiones Durango San Luis S.A. de C.V., a private Mexican corporation, that holds the IDS Project. As stated in the April 28, 2017 news release, the IDS Project consists of a past producing gold smelter, three acres of land situate around the smelter, and various equipment and permits associated therewith.
Endeavour Silver Corp. announces the release of its 2016 Annual Review and Sustainability Report entitled Sustainability and Growth. This marks the fifth consecutive year the company has reported on its sustainability initiatives, including the last four under the GRI G4 sustainability reporting framework.
Sierra Metals Inc. hereby announces the voting results from the Company’s Annual and Special Meeting of Shareholders held on Wednesday, June 14, 2017.
Colibri Resource Corporation announces the results of its Annual and Special Meeting held on June 15, 2017. Of the shares voted, more than 99% were in favour of all management resolutions proposed in the Company’s Information Circular.
MAG Silver Corp. announces that at its annual general and special meeting held on June 15, 2017, MAG’s Shareholders approved by majority: to elect all eight directors standing for re-election; to re-appoint Deloitte LLP as the Company’s auditor; and to amend and restate the Company’s Stock Option Plan, Share Unit Plan and Deferred Share Unit Plan.
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