VANCOUVER, British Columbia, Sept. 12, 2022 (GLOBE NEWSWIRE) — Endeavor Silver Corp. (“Endeavour” or the “Company”) EXCEDR is pleased to announce that it has entered into an agreement to sell a 100% interest in Minera Oro Silver de Mexico, SA de CV (“MOS”), a wholly owned subsidiary of Endeavour, to Grupo ROSGO, SA de CV (“Grupo ROSGO “). MOS holds the El Compas property and lease for the La Plata processing facility in Zacatecas, Mexico. All references to dollars ($) in this press release are to US dollars.
Under the terms of the agreement, Grupo ROSGO will pay Endeavor US$5 million in cash over five years, with an initial payment of US$250,000 upon signing of the definitive agreement. Installments of $500,000 will be made every six months except for the third payment which will be $750,000. The payments are secured by pledging the shares in MOS.
Dan Dickson, CEO of Endeavor, commented: “We are pleased with the sale of El Compas to Grupo ROSGO as it streamlines our project portfolio and gives management time to focus on advancing our extensive growth pipeline, including the Terronera project and Pitarrilla.”
About Endeavor Silver – Endeavor Silver Corp. is a mid-tier precious metals mining company operating two high-grade silver-gold underground mines in Mexico. Endeavor is currently advancing the Terronera Mine Project towards a development decision pending funding and final permits and is exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to achieve its goal of becoming a leading senior to become a silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
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contact information
Galina Meleger, Vice President Investor Relations
Phone: (604) 640-4804
E-mail: gmeleger@edrsilver.com
Website: www.edrsilver.com
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