MAGELLAN GOLD CORPORATION (OTCMKTS:MAGE) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Amendment to Stock Purchase Agreement
On October 17, 2017, Magellan Gold Corporation (the “Company”) signed an Amendment to Stock Purchase Agreement (the “Amendment”) by and among the Company, Magellan Acquisition Corporation (“Purchaser”) Vane Minerals (UK) Limited (“Minerals”), Rose Petroleum, plc (Minerals parent corporation) (“Rose”) and Minerals’ wholly-owned subsidiaries Minerales Vane S.A. de C.V. (“Vane”) and Minerales Vane 2 S.A. de C.V. (“Vane 2”). Rose and Minerals are together the “Seller”. The Amendment is filed herewith as Exhibit 10.1.
Under the terms of the Amendment the Purchaser shall purchase 26,573,998 Shares of Vane 2 from the Seller and the Company shall purchase from Seller one Share of Vane 2, together comprising all of the Shares of Vane 2 owned by Seller. The Closing Date has changed from November 30, 2017 to December 31, 2017 and as soon as practicable following the Closing Date, Purchaser shall consummate the acquisition of Minerales VANE Operaciones from Seller for a purchase price of $2,500. Section 9.2(s) of the original Stock Purchase Agreement was deleted in its entirety.
Details of the original Stock Purchase Agreement were reported in the Company’s Current Report on Form 8-K dated September 9, 2017 and filed with the Securities and Exchange Commission on September 12, 2017.
ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS
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Item |
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10.1 |
Amendment to Stock Purchase Agreement |
MAGELLAN GOLD Corp ExhibitEX-10.1 2 magellan_10ez1.htm AMENDMENT TO STOCK PURCHASE AGREEMENT AMENDMENT TO STOCK PURCHASE AGREEMENT This Amendment to Stock Purchase Agreement (this “Amendment”) is dated as of October 17,…To view the full exhibit click here