DynaResource extends offtake with Ocean Partners; gets $5M equity, $17.5M credit line

DYNARESOURCE, INC.

Extends gold concentrate offtake agreement through Dec 2026 with automatic annual renewals.
Credit line increased to $17.5M; option to convert up to $10M into revolving credit at SOFR+7.5%.
Ocean Partners to buy 1M shares at $5/share ($5M total) in private placement.
Ocean Partners gets board nomination right; Brent Omland initial nominee.
Early termination fee of $1M applies if DynaResource ends the offtake agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DYNARESOURCE, INC. entered into Memorandum of Understanding with Ocean Partners Holdings Limited (effective 2023-06-29).

Action: entry
Counterparty: Ocean Partners Holdings Limited
Effective: 2023-06-29

Exact text from the filing

On June 29, 2023 DynaResource, Inc. (the “Company”), entered into a Memorandum of Understanding with Ocean Partners Holdings Limited (“OP”).

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DYNARESOURCE, INC. filing history →

Source: SEC EDGAR

accession 0001654954-23-008882

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