The TSX Venture Exchange has accepted for filing documentation relating to the sale from Granada Gold Mine Inc. to Canada Silver Cobalt Works Inc. of a back-in option on five mining leases forming part of the Castle Silver cobalt mine property in Ontario. As consideration, Canada Silver issued 2,941,000 common shares and 2,941,000 common share purchase warrants to Granada Gold. Each warrant will entitle Granada Gold to acquire one additional common share of Canada Silver for 55 cents for a period of five years. The shares and warrants issued by Canada Silver to Granada Gold are subject to a four-month hold period under applicable securities regulations and the policies of the TSX Venture Exchange. The TSX Venture Exchange has been advised that closing of the purchase and sale occurred on July 13, 2020.
Granada Gold and Canada Silver are non-arm's-length parties under exchange policies due to common directors and officers.
For further information, refer to the companies' news releases dated July 2, 2020, and July 13, 2020, and to their respective material change reports dated July 15, 2020, which are available under their respective SEDAR profiles.
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