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Denarius Silver Acquires the Lomero Project in Spain


On April 29, 2021, Denarius Silver Corp. announced that it had acquired 100% of the issued and outstanding shares of Transcontinental Gold Mines Pty Ltd. (“TGM”) pursuant to a share purchase agreement dated April 20, 2021 with ZENK Capital Private Fund, Inc., Continental Mining Australia Pty Ltd, as trustee for Continental Trust, Haramont Pty Ltd, as trustee for D&V Investment Trust, and TGM. Pursuant to the transaction, Denarius acquired a 100% indirect interest in the Investigation Permit Nº 14,977, covering the areas occupied by the former Lomero-Poyatos concessions and the mine within them in southern Spain (the “Lomero Project”).

In connection with the acquisition, Denarius completed an offering of 75,000,000 subscription receipts at a price of $0.45 per receipt for aggregate gross proceeds of $33.75 million. The proceeds from the offering were utilized to complete the acquisition, and will provide further capital for the exploration and development of the Lomero Project.

Cassels acted for Denarius.

RELATED EXPERTISE: Securities | Mergers & Acquisitions | Mining