Golden Minerals Signs New Lease Option Agreement With Hecla Mining

http://www.euroinvestor.com/news/2017/08/03/golden-minerals-signs-new-lease-option-agreement-with-hecla-mining/13650051

GOLDEN, Colo., Aug. 03, 2017 (GLOBE NEWSWIRE) — Golden Minerals Company (“Golden Minerals”, “Golden” or “the Company”) (NYSE American:AUMN) (TSX:AUMN) is pleased to announce it has granted Hecla Mining Company (“Hecla”) an option to secure the use of the Company’s oxide plant for an additional two years, for (US) $2.0 million.

Under the terms of the new agreement dated August 2, 2017, Hecla shall have the right to extend the existing lease term for up to two years, ending no later than December 31, 2020, by providing Golden written notice no later than October 3, 2018. In consideration for such option, Hecla has paid Golden Minerals $1.0 million cash, and shall purchase $1.0 million or approximately 1.8 million shares of Golden Minerals common stock. The shares will be issued within 30 days of signing and priced at an undiscounted 30-day volume weighted average price of $0.55 as of the day immediately preceding the signing date.

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