Sale agreement
Endeavour Silver Announces At-the-Market Offering of up to US $60 Million
Endeavour Silver Announces At-The-Market Offering of up to US$35.7 Million
Vancouver, Canada – June 13, 2018 – Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) (the
“Company” or “Endeavour”) is pleased to announce it has entered into a sales agreement dated June 13,
2018 (the “Sales Agreement”) with BMO Capital Markets (the lead agent), CIBC Capital Markets, H.C.
Wainwright & Co., HSBC and TD Securities Inc. (together, the “Agents”) pursuant to which the Company may, at its discretion and from time-to-time during the term of the Sales Agreement, sell, through the Agents, such number of common shares of the Company (“Common Shares”) as would result in aggregate gross proceeds to the Company of up to US$35.7 million (the “Offering”). Sales of Common Shares will
be made through “at-the-market distributions” as defined in the Canadian Securities Administrators’ National Instrument 44-102-Shelf Distributions, including sales made directly on the New York Stock Exchange (the “NYSE”), or any other recognized marketplace upon which the Common Shares are listed or quoted or where the Common Shares are traded in the United States. The Common Shares will be
distributed at the market prices prevailing at the time of each sale and, as a result, prices may vary as between purchasers and during the period of distribution. No offers or sales of Common Shares will be made in Canada on the Toronto Stock Exchange (the “TSX”) or other trading markets in Canada.
SIERRA METALS ANNOUNCES “AT-THE-MARKET” ISSUANCE PROGRAM AND FILING OF PROSPECTUS SUPPLEMENT
TORONTO, Oct. 10, 2017 /PRNewswire/ – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra” or the “Company”) is pleased to announce that it has entered into an Open Market Sale AgreementSM (the “Sales Agreement”) with Jefferies LLC, H.C. Wainwright & Co., LLC, Scotia Capital (USA) Inc. and Noble Capital Markets, Inc. (collectively, the “Agents”), pursuant to which the Company may, at its discretion and from time to time during the term of the Sales Agreement, sell, through the Agents, acting as agent and/or principal, such number of common shares of the Company (“Common Shares”) as would result in aggregate gross proceeds to the Company of up to US$55 million. Sales of Common Shares through the Agents, acting as agent, will be made through “at the market” issuances on the NYSE American at the market price prevailing at the time of each sale, and, as a result, sale prices may vary. No Common Shares will be offered or sold in Canada.
The Company has filed a prospectus supplement, dated October 10, 2017, to the base prospectus included in its U.S. registration statement on Form F-10 (Registration No. 333-218076) declared effective on July 7, 2017, pursuant to which the Company may issue up to US$55.0 million of Common Shares (but not more than 22,500,000 Common Shares) in an at-the-market distribution.
Gogold Announces Sale of Santa Gertrudis Project to Agnico Eagle for US$80 Million
HALIFAX, NOVA SCOTIA – (September 5, 2017) – GoGold Resources Inc. (“GoGold” or the “Company”) (TSX:GGD) is pleased to announce that it has entered into definitive agreements (the “Agreements”) with Agnico Eagle Mines Limited (“Agnico”) to sell its interest in the Santa Gertrudis gold project (the “Project”), located in Sonora, Mexico (the “Transaction”).
Pursuant to the terms of the Agreements, GoGold will receive total cash consideration of US$80 million (less a working capital adjustment estimated to be approximately US$280,000 at closing of the transaction) and will be granted a 2% NSR on the Project. Agnico will retain the option to buy back 1% of the NSR for US$7.5 million. Following announcement of the Transaction and the satisfaction by GoGold of certain conditions precedent, Agnico will advance to GoGold an aggregate of US$7.5 million in cash via a subordinated secured term loan bearing interest at 10% per annum. The term loan, along with accrued and capitalized interest, shall be repaid upon closing of the Transaction by way of a set off against the total cash consideration. Agnico has entered into a subordination and postponement agreement in respect of the Company’s existing senior revolving credit facility with the Bank of Montreal. GoGold has received the required consents for the Transaction from Bank of Montreal under the senior revolving credit facility and received a waiver of compliance with its total debt leverage and interest coverage ratio covenants for the fiscal quarter ended September 30, 2017, which may be extended to February 28, 2018 (the outside date for closing) in certain circumstances.
Brad Langille, President and CEO of GoGold stated, “We are very pleased to announce this Transaction with Agnico Eagle. We believe it demonstrates the value generated and progress made at Santa Gertrudis by the GoGold team since acquiring the Project in 2014. Agnico Eagle has a strong track record of advancing and developing projects and we believe GoGold shareholders are well positioned to benefit from the future potential of the Project through our retained royalty. The Transaction will enable GoGold to significantly strengthen the Company’s balance sheet through repayment of our senior revolving credit facility, position the Company well as the Parral Tailings project ramps up to its full potential, while also allowing us to continue to pursue further opportunities in Mexico and beyond.”sa
Avino Announces US ATM Offering of up to US$25 Million
http://www.avino.com/s/news.asp?ReportID=799109
Avino Announces US ATM Offering of up to US$25 Million
Avino Silver & Gold Mines Ltd. (ASM: TSX.V, ASM: NYSE–MKT: ASM; “Avino” or the “Company”)announces it has entered into a sales agreement dated August 4, 2017 (the “Sales Agreement“) with Cantor Fitzgerald & Co. (the “Agent”), pursuant to which Avino may distribute common shares (the “Offered Shares”) from time to time through the Agent, as agent or as principal, for the distribution of the Offered Shares in the United States up to the aggregate sales amount of US$25 million (the “Maximum Amount”), in accordance with the terms of the Sales Agreement (the “Offering”). The Offering is being made in the United States under the terms of a registration statement on Form F-10 (SEC File No. 333-214396) (the “Registration Statement”) filed and effective with the United States Securities and Exchange Commission (the “SEC”), and a prospectus supplement dated August 4, 2017 (the “Prospectus Supplement”) filed in each Province of Canada, except Quebec, to the base shelf prospectus dated November 10, 2016 (the “Base Shelf Prospectus”; the Registration Statement, Prospectus Supplement and Base Shelf Prospectus being collectively, the “Prospectus”).
Sales of Offered Shares under the Prospectus will be made in transactions that are deemed to be “at-the-market distributions” as defined in National Instrument 44-102, Shelf Distributions (“NI 44-102“), including sales made directly on the NYSE-MKT. The Offered Shares will be distributed at the market prices prevailing at the time of sale. As a result, prices may vary as between purchasers and during the period of distribution. The period of distribution will be the earlier of (i) the date of distribution of the Maximum Amount, and (ii) December 10, 2018.
Santacruz Finalizes El Gachi Property Sale to First Majestic
Click to access article_03282017161017.pdf
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (“Santacruz” or the “Company”) announces that the sale of its interest in the El Gachi Property in Sonora State, Mexico to First Majestic Silver Corp. (“First Majestic”) for total consideration of US$2.5 million plus applicable VAT (see press release dated February 24, 2017) has been completed. From the proceeds of US$2.5 million plus VAT received by the Company, US$0.75 million has been paid to JMET, LLC (“JMET”) to eliminate the residual balance of the interest bearing component of its indebtedness to JMET, leaving a non-interest balance of US$1.5 million owing to JMET related to previous restructuring fees. In addition, the Company paid US$0.50 million plus VAT to Minera Hochschild Mexico, S.A. de C.V. (“MHM”). With this payment to MHM the Company has no further obligations to MHM with respect to the San Felipe or El Gachi properties.
Starcore Closes C$13.50 Million Sale of Real Estate Asset in Mexico
Vancouver, British Columbia – Starcore International Mines Ltd. (TSX:SAM) (“Starcore” or the “Company”) announces that it has closed the sale of its San Pedrito Property, a non-core asset located in Queretaro, Mexico for C$13.50 million* (MXN$ 192,784,331).
As reported on March 9, 2016, the Company entered into a sale agreement of the San Pedrito Property, receiving a deposit of $50 million pesos. The sale agreement was subject to various confirmations, including compliance with state and municipal regulations and confirmation that the property was in good standing so conveyancing could proceed. Various requirements have been met, whereupon the buyer has removed several subject conditions and has made the first parcel payment to the Company of MXN$ 137,671,371 (C$ 9,640,852)* plus interest on this amount from March, 9, 2016, of MXN$ 7,576,445 (C$ 530,563)*, for a total payment of MXN$ 145,247,816 (C$ 10,171,415)*.
Leagold Mining to acquire Los Filos from Goldcorp as its first gold mine
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- Leagold to acquire the Los Filos Gold Mine in Mexico for US$350 million, of which US$279 million will be paid in cash and US$71 million in common shares of Leagold.
- Goldcorp to become an approximate 30% shareholder of Leagold at completion.
- Leagold will undertake debt and equity financings, arranged by UBS Investment Bank and BMO Capital Markets, respectively.
- Los Filos Mine is one of Latin America’s largest gold mines with 2015 production of 272,900 ounces, and 9 months to September 30, 2016 production of 194,000 ounces at an AISC/oz of US$854.
- Leagold aims to build a new mid-tier gold producer with a focus on opportunities in Latin America; Los Filos is the first acquisition.
VANCOUVER, Jan. 12, 2017 /CNW/ – Leagold Mining Corporation (TSX-V: LMC.H) (“Leagold”) is pleased to announce that it has entered into a binding sale and purchase agreement with Goldcorp Inc. (“Goldcorp”) dated January 11, 2017 to acquire the Los Filos Gold Mine in Guerrero State, Mexico for US$350 million (the “Acquisition”) through the purchase of Goldcorp’s Desarrollos Mineros San Luis S.A. de C.V. (“DMSL”) subsidiary. The purchase price is made up of US$279 million in cash and US$71 million in common shares of Leagold. Based on Leagold’s transaction financing plan, Goldcorp is expected to become an approximate 30% shareholder of Leagold at completion of the Acquisition. Goldcorp will have the right to nominate a director to Leagold’s Board at completion of the Acquisition.
Santacruz Silver Terminates San Felipe Project Sale
Click to access 2016-12-23_NR.pdf
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (“Santacruz” or the “Company”) reports that it has terminated the previously announced agreement in connection with the Company’s sale of the San Felipe Project (the “Transaction”) (see press release dated December 7, 2016) to the Hermosillo Group. No payments pursuant to the Transaction have been made to date. Discussions have been on-going with respect to revised payment terms however this process has not led to a payment schedule acceptable to the Company and therefore the agreement has been terminated by the Company. The Company is in discussions with Minera Hochschild Mexico, S.A. de C.V. the underlying property vendor with respect to the continued deferral of the payment terms for the San Felipe Project.