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.