Aftermath Silver Ltd. has received TSX Venture Exchange approval for the acquisition of up to a 80-per-cent interest in the Cachinal silver-gold project.
The company entered into a share purchase agreement with Halo Labs Inc. dated June 22, 2018, as amended, pursuant to which the company has agreed to acquire up to an 80-per-cent interest in the Cachinal silver-gold project located in Chile through the purchase of Halo's shares in the Chilean holding company, Minera Cachinal S.A. In consideration of the acquisition of the 80-per-cent interest in the Cachinal silver-gold project, the company issued to Halo a convertible debenture in the principal amount of $1,575,000, which is convertible into common shares of the company at 20 cents at the option of Halo. The principal amount of the convertible debenture is to be repaid in accordance with the following schedule:
$250,000 on closing;
- $250,000 on or before six months following closing;
- $525,000 on or before the first anniversary of closing;
- $550,000 on or before 18 months following closing.
For further information see the company's news release dated Jan. 15, 2019, which is available under the company's profile on SEDAR.
Insider/pro group participation: none
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