Jun 14, 2017 (TheNewswire.ca via COMTEX) — (via TheNewswire)
Vancouver, British Columbia / TheNewswire / June 14, 2017 – Telson Resources Inc. (“Telson” or the “Company”) (TSX Venture – TSN.V) is pleased to announce that it has received final TSX Venture Exchange (“TSXV”) approval for and has closed its acquisition of the Campo Morado mine, located in Guerrero State, Mexico (the “Campo Morado Mine”). Further to its news release of April 27, 2017, Telson has closed the Share Purchase Agreement, as amended (the “Agreement”) with Nyrstar Mining Ltd. and Nyrstar Mexico Resources Corp. (collectively “Nyrstar”) and has purchased all of the shares of Nyrstar’s Mexican subsidiary companies that make up and own 100% of the Campo Morado Mine, such that these subsidiary companies are now wholly-owned subsidiaries of Telson.
Under the terms of the Agreement, Telson will pay a total purchase price of US$20 million plus any Variable Purchase Price. US $800,000 was paid at signing of the Agreement, US $2.0 million was paid immediately before today’s closing, US $700,000 is due by June 30, 2017 and US $16.5 million is due by June 13, 2018, as the anniversary of closing.