Deal Snapshot
MAGELLAN GOLD CLOSES ACQUISITION OF SDA MILL IN MEXICO
Wednesday 06 December 2017

US-based precious metals explorer Magellan Gold Corp. (OTCQB: MAGE) has closed its purchase of the SDA Mill, Nayarit State, Mexico, from Rose Petroleum plc (AIM: ROSE), the company said. The SDA Mill is a fully permitted and operational mineral processing plant and includes all associated assets, licenses and agreements.
Total consideration for the SDA Mill purchase is USD 1.5m, consisting of USD 1m in cash and USD 500,000 in Magellan stock, of which USD 100,000 in cash already has been paid. As announced August 16, 2017, Magellan has arranged USD 900,000 in irrevocable bridge loans in support of its option to purchase the mill. The bridge loans are sufficient to complete the cash component of the purchase price.


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Details
Date Published: 06/12/2017
Target: Operating floatation plant in the,  State of Nayarit, Mexico
Country: Mexico
Deal Size: 1.5m (USD)
Sector: Metals/Mining
Type: Corporate acquisition
Financing: Cash and Stock
Status: Closed
Vendor: Rose Petroleum
Buyer: Magellan Gold
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