Mr. Arturo Elizondo reports
SANTACRUZ SILVER REPORTS RESULTS OF ANNUAL GENERAL MEETING
At the annual general meeting of shareholders of Santacruz Silver Mining Ltd. held on Oct. 1, 2019, a total of 59,922,159 common shares of the company, representing approximately 34.3 per cent of the company's issued and outstanding common shares, were voted.
Shareholders approved all matters brought before the meeting, including the re-election of the incumbent directors, the reappointment of PricewaterhouseCoopers LLP as auditor of the company and the approval of the company's existing 10-per-cent rolling stock option plan.
In addition, shareholders overwhelmingly approved the company's acquisition of the remaining 50 per cent of the outstanding shares of PCG Mining SA de CV from a non-arm's-length party in consideration for the issue of 30 million common shares of the company. Upon completion of the transaction, the company will own 100 per cent of PCG, which is the parent holding company of Carrizal Mining SA de CV.
Closing of the transaction remains subject to the company submitting customary documents to the TSX Venture Exchange in order to obtain the exchange's final approval to the transaction.
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican-focused silver company with two producing silver projects, Veta Grande and Rosario, and two exploration properties, the Minillas and Zacatecas properties.
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