MX Gold Corp (MXLGF)

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MX Gold Corp. Accelerates Payment and Acquires 50% Share Ownership in Mexican Company Holding IDS Smelter Project
GlobeNewswire•June 21, 2017

VANCOUVER, British Columbia, June 21, 2017 (GLOBE NEWSWIRE) -- MX Gold Corp. (MXL.V) (FSE:ODV) (MXLGF) (the “Company” or “MX Gold”) is pleased to announce that, further to its February 13th and April 28th news releases, the Company has paid the remaining amounts due totaling US$450,000 to American Metal Mining S.A. de C.V. as required under the Framework Agreement dated February 6, 2017, as amended, thereby acquiring 50% of the shares of Inversiones Durango San Luis S.A. de C.V., a private Mexican corporation, that holds the IDS Project. As stated in the April 28, 2017 news release, the IDS Project consists of a past producing gold smelter, three acres of land situate around the smelter, and various equipment and permits associated therewith.

CEO Dan Omeniuk stated, “With the acquisition complete, both parties are ready to receive shipment of material. The JV management is diversifying ore collection camps to assist more local small miners for mineral supply assurance while optimizing metallurgical blending properties for engineering design.”

The Company also announces that, pursuant to a consulting services agreement dated October 20, 2016 between the Company and a third party consultant, the Company issued 85,174 common shares in the capital of the Company to the consultant as a finder’s fee in connection with the Company earning its 50% share ownership interest in the Mexican corporation holding the IDS Project.
https://finance.yahoo.com/news/mx-gold-corp-accelerates-payment-123000164.html