GOLDEN MINERALS COMPANY (TSE:AUM) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k

6 years ago

GOLDEN MINERALS COMPANY (TSE:AUM) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry Into a Definitive Material Agreement.

On August30, 2018, Golden Minerals Company (the “Company”), through its wholly owned subsidiary Minera de Cordilleras, S. de R.L. de C.V. (“MC”), sold 50% of its remaining right, title and interest in and to the mining concessions and related interests and contractual rights in connection with the Company’s Celaya exploration property in Mexico to Minera Adularia Exploración, S. de R.L. de C.V., an affiliate of The Electrum Group LLC (“Adularia”), in exchange for a payment of $3.0 million. Any Mexican VAT payable as a result of the sale is payable by Adularia.

The sale was memorialized in (i)a Contract of Assignment of Rights dated August30, 2018 among MC and Adularia (the “Contract of Assignment”) and (ii)an Assignment of Rights Agreement dated August30, 2018 among MC and Adularia (the “Assignment of Rights” and together with the Contract of Assignment, the “Assignment Agreements”). The mining concessions and related interests and contractual rights sold were subject to a certain earn-in agreement, as amended, between MC and Adularia, which was terminated upon entry into the Assignment Agreements.

The foregoing description of the Contract of Assignment and Assignment of Rights does not purport to be complete and is qualified in its entirety by reference to the full text of the Contract of Assignment and Assignment of Rights, which are attached hereto as Exhibits10.1 and 10.2, respectively.

Item 9.01 Financial Statements and Exhibits

Table of Contents

Golden Minerals Co ExhibitEX-10.1 2 a18-26026_1ex10d1.htm EX-10.1 Exhibit 10.1 CONTRATO DE CESIÓN DE DERECHOS (CONVENIO O CONTRATO) QUE CELEBRAN,…To view the full exhibit click here
About GOLDEN MINERALS COMPANY (TSE:AUM)
Golden Minerals Company is a mining company. The Company owns the Velardena and Chicago precious metals mining properties and associated oxide and sulfide processing plants (the Velardena Properties) in the State of Durango, Mexico, the El Quevar advanced exploration property in the province of Salta, Argentina, and a diversified portfolio of precious metals and other mineral exploration properties located primarily in Mexico. Its two segments include its Velardena Properties in Mexico and non-revenue producing activities, including exploration, construction and general and administrative activities. It focuses on evaluating and searching for mining opportunities in North America (including Mexico) with high precious metal grades with near term prospects of mining, and particularly properties within haulage distances of its Velardena Properties, which may include the Santa Maria Mine, the Santa Rosa vein or the Rodeo property.