Vangold Mining Acquires San Carlos Mining Property
December 26th 2017 | by Vangold
Vancouver, British Columbia, Dec 19, 2017 (Newsfile Corp via COMTEX) -- Vangold Mining Corp. ("Vangold" or the "Company") (VAN) VGLDF, +55.74% is pleased to announce, that its wholly owned subsidiary, Obras Mineras El Pinguico SA de CV (OMP) and Exploraciones Mineras Del Bajio SA de CV ("EMDB") have entered into an Acquisition Agreement for a 100% interest in the rights derived from a mining concession covering the lot referred to as San Carlos; title 166666; file 031/04372 (the "San Carlos Property").
Vangold has agreed to acquire the silver and gold development property for an aggregate purchase price of CDN$425,000 (the "San Carlos Acquisition") of which CDN$350,000 of the purchase price will be satisfied through the issuance of 5,000,000 common shares of Vangold to EMDB and the remaining CDN$75,000 will be paid in cash. The common shares issued to EMDB will be subject to a four-month hold period. The San Carlos Acquisition remains subject to regulatory approval...