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Silver X Mining Corp. (OTC PINK: WRPSF) has approved a debt settlement of up to CAD$1,858,178.03 through the issuance of up to 4,424,233 shares at a deemed price of $0.42 per share to Baker Steel Resources Trust Limited. The settlement involves converting a US$1 million promissory note and accrued interest into shares, pending approval from the TSX Venture Exchange. All securities issued will be subject to a four-month hold period.
Silver X Mining Corp. (OTC PINK: WRPSF) reported strong performance at its Tangana Mine, generating USD $6.5 million in revenues from silver-polymetallic concentrate sales year-to-date. The company successfully completed a 4,000-meter infill drill program, enhancing understanding of mineralization and resource continuity. Furthermore, it has initiated a 25,000-meter resource expansion program to further explore and define additional mineral resources. The inferred resource at the Nueva Recuperada project stands at 7.32 million tonnes with promising grades.
Silver X Mining Corp. (OTC Pink: WRPSF) has received final approval from the TSX Venture Exchange for its merger with Mines and Metals Trading (Peru) PLC. Trading of its common shares will resume under the ticker symbol AGX as of market open on June 29, 2021. The company’s flagship asset is the Nueva Recuperada silver lead zinc project in Huancavelica, Peru. Silver X aims to enhance shareholder value through this strategic combination. The management team has a proven track record in the mining sector.
Silver X Mining Corp has successfully closed its business combination with Mines and Metals Trading (Peru) PLC, creating a new growth-focused silver producer in Peru. The company has raised over $14 million in financing and aims to expand its inferred resource of 7,324,400 tonnes at its Nueva Recuperada project. The project features a 600 tpd processing facility and is strategically located within Peru's premier silver belt. The management team has a proven track record, and the company is gearing up for an extensive 30,000m drilling program to optimize operations.
Silver X Mining Corp. (OTC PINK: WRPSF) has officially changed its name from Oro X Mining Corp. effective June 18, 2021. This name change is a prerequisite for the anticipated business combination with Mines and Metals Trading (Peru) PLC. The company's new trading symbol will be AGX, also effective June 18, 2021. Silver X Mining focuses on high-grade gold exploration in Peru, particularly at its flagship Coriorcco Gold Project in Ayacucho. The transaction is expected to close shortly, aligning with the company's commitment to enhance shareholder value.