Aya Gold & Silver Signs Binding Agreement to Acquire Algold Resources
Mont-Royal, Feb. 19, 2021 (GLOBE NEWSWIRE) -- Montreal, Quebec, February 19, 2021 - Aya Gold & Silver Inc. (TSX: AYA) (Aya or the Corporation) is pleased to announce that, in the context of the Proposal made by Algold Resources Ltd. (Algold), it has entered into a binding term sheet (the Investment Agreement) with Algold pursuant to which Aya would fund Algolds Proposal to its creditors (the Proposal) and at closing, would become the sole shareholder of Algold (the Transaction).
- Mont-Royal, Feb. 19, 2021 (GLOBE NEWSWIRE) -- Montreal, Quebec, February 19, 2021 - Aya Gold & Silver Inc. (TSX: AYA) (Aya or the Corporation) is pleased to announce that, in the context of the Proposal made by Algold Resources Ltd. (Algold), it has entered into a binding term sheet (the Investment Agreement) with Algold pursuant to which Aya would fund Algolds Proposal to its creditors (the Proposal) and at closing, would become the sole shareholder of Algold (the Transaction).
- Under the terms of the Investment Agreement, Aya will provide Algold with C$100,000 in cash and C$2,500,000 in Aya shares to fund Algolds Proposal.
- Aya will also provide C$2,400,000 in Aya shares to be distributed to Algold current shareholders with a view to become Algolds sole shareholder.
- About Aya Gold & Silver Inc.
Aya Gold & Silver Inc. is a publicly traded Canadian company focused on the operation, exploration, acquisition, and development of silver and gold deposits.