MAGELLAN GOLD CORPORATION (OTCMKTS:MAGE) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01
Magellan Gold Corporation, a Nevada corporation (the “Company”), and its wholly-owned subsidiary, Recursos Ecologicos Alternativos la Rumorosa (REA) S.A. de C.V (“Magellan Mexico”) has entered into an Option to Purchase Agreement dated October 16, 2019 (the “Agreement), with Golden Minerals Company, a Delaware corporation (“GMC”), and its wholly-owned subsidiary, Minera de Cordilleras, S. de R.L. de C.V. (“GMC Mexico”), whereby the Company, through Magellan Mexico has acquired from GMC, through GMC Mexico, an exclusive option to purchase GMC Mexico’s interest in concessions and related rights to its Santa Maria property in Mexico described in the Agreement.
To exercise the Option will require future payments and performance milestones; and there can be no assurance that these requirements will be satisfied.
A copy of the Agreement is filed herewith as Exhibit 10.1.
The Company issued a press release on October 17, 2019 announcing its agreement with GMC as described in Item 1.01 above. A copy of the press release is filed herewith as Exhibit 99.1
In addition, the Company has updated its Investor Presentation. A copy of the Investor Presentation is filed herewith as Exhibit 99.2.
The information in this Current Report on Form 8-K furnished to Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section, and they shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. By filing this Current Report on Form 8-K and furnishing this information to Item 7.01, the Company makes no admission as to the materiality of any information in this Current Report on Form 8-K, including Exhibit 99.1, that is required to be disclosed solely by Regulation FD.
(d) Exhibits
| Exhibit Number | Description |
| 10.1 | Option to Purchase Agreement |
| 99.1 | Press Release |
| 99.2 | Investor Presentation |
MAGELLAN GOLD Corp Exhibit
EX-10.1 2 magellan_8k-ex1001.htm OPTION TO PURCHASE AGREEMENT Exhibit 10.1 OPTION to Purchase AGREEMENT THIS OPTION TO PURCHASE AGREEMENT is made and entered into effective as of October 16,…
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