MX Gold pays remaining $450,000 (U.S.) for IDS interest
2017-06-21 09:34 ET – News Release
Mr. Dan Omeniuk reports
MX GOLD CORP. ACCELERATES PAYMENT AND ACQUIRES 50% SHARE OWNERSHIP IN MEXICAN COMPANY HOLDING IDS SMELTER PROJECT
Further to its Feb. 13 and April 28 news releases, MX Gold Corp. has paid the remaining amounts due totalling $450,000 (U.S.) to American Metal Mining SA de CV as required under the framework agreement dated Feb. 6, 2017, as amended, thereby acquiring 50 per cent of the shares of Inversiones Durango San Luis SA de CV, a private Mexican corporation that holds the IDS project. As stated in the April 28, 2017, news release, the IDS project consists of a past-producing gold smelter, three acres of land situate around the smelter, and various equipment and permits associated therewith.
Dan Omeniuk, chief executive officer, stated: “With the acquisition complete, both parties are ready to receive shipment of material. The joint venture management is diversifying ore collection camps to assist more local small miners for mineral supply assurance while optimizing metallurgical blending properties for engineering design.”
The company also announces that, pursuant to a consulting services agreement dated Oct. 20, 2016, between the company and a third party consultant, the company issued 85,174 common shares in the capital of the company to the consultant as a finder’s fee in connection with the company earning its 50-per-cent share ownership interest in the Mexican corporation holding the IDS project.
About MX Gold Corp.
MX Gold is a junior mining company focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico. The company’s primary focus in British Columbia is its high-grade Willa gold and copper project located 12 kilometres south of Silverton, B.C.
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