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Endeavour Silver Closes Sale of Cozamin Royalty to Gold Royalty Corp
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Endeavour Silver Corp.'s subsidiary, MPA, has closed the royalty sale with Gold Royalty Corp, selling its interest in the 1% Cozamin royalty for US$7,500,000 in cash. The sale includes an option for Gold Royalty Corp to purchase additional royalties. The Cozamin Mine, owned by Capstone Copper, is located on two of the seven concessions acquired by Endeavour in 2017.
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VANCOUVER, British Columbia, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to announce that its wholly-owned subsidiary, Minera Plata Adelante SA de CV (“MPA”) has closed the royalty sale (the “Royalty Transaction”) with Gold Royalty Corp. As previously announced on July 31, 2023, MPA agreed to sell its interest in the 1% Cozamin royalty (“Royalty”) for total consideration of US$7,500,000, payable in cash. The Royalty applies to two concessions (Calicanto and Vicochea) on Capstone’s Cozamin copper-silver mine, located 3.6 kilometres north-northwest of Zacatecas City in state of Zacatecas, Mexico. The sale transaction includes an option granted to Gold Royalty Corp to purchase any additional royalties which may be granted on the five remaining concessions under the 2017 concession division agreement.
The Company obtained the Royalty through a concession division agreement signed in 2017 on seven wholly owned concessions which were acquired for US$445,000 The Cozamin Mine, a copper-silver mine owned and operated by Capstone Copper in Zacatecas, Mexico, is located on two of the seven Concessions.
About Endeavour Silver – Endeavour is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is advancing construction of the Terronera Project and exploring its portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
endeavour silver corp. (nyse: exk, tsx: edr, frankfurt: ejd) is a mid-cap silver mining company focused on the growth of its silver production, reserves and resources in mexico. since start-up in 2004, endeavour has posted seven consecutive years of aggressive silver production and resource growth. the organic expansion programs now underway at endeavour's two operating silver mines in mexico combined with its strategic acquisition program should help endeavour achieve its goal to become a premier, mid-tier silver mining company.
