Buyer is Telson Resources Inc. and Reynas Minas S.A. de C.V.
Nyrstar announces that it has successfully completed the sale of its Campo Morado mine in Mexico to Telson Resources Inc. and Reynas Minas S.A. de C.V. for a total cash consideration of USD 20 million, plus the potential for additional future proceeds through a variable purchase price agreement linked to production at the Campo Morado mine.
As previously announced, the share purchase agreement for the Transaction was entered into on 27 April 2017 and had a number of customary conditions precedent that needed to be satisfied before the Transaction could complete.
The Consideration payable to Nyrstar consists of USD 0.8 million that was paid to Nyrstar upon signing the Agreement in April 2017, USD 2 million that was paid to Nyrstar on closing of the Transaction, USD 0.7 million to be paid within June 2017 , and USD 16.5 million payable in cash that will be paid to Nyrstar on or before the 12 month anniversary of the closing.
