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Prime Mining Completes Acquisition of Los Reyes Gold Project and $8.7 Million Financing


On August 28, 2019, Prime Mining Corp. acquired the rights to the Los Reyes Gold Project, located in Sinaloa State, Mexico, in a transaction involving Minera Alamos Inc. and Vista Gold Corp. Los Reyes is a historically producing gold project located in the mining centre of Cosala, Sinaloa in Mexico, and is the site of a significant established gold resource. With a newly assembled management team, Prime Mining intends to advance the project into production in the near term. In connection with completion of the acquisition, Prime Mining completed a private placement offering of units in which it raised $8.7 million.

Cassels acted for Prime Mining with a team that included Sam Cole and Sam Chapman (Securities).

RELATED EXPERTISE: Mining | Securities