Magellan Gold acquires Blue Jacket, Copper Cliff, and Copper Butte mining claims for 6M shares

MAGELLAN COPPER & GOLD Corp

Purchase consideration: 5,500,000 shares for mineral assets plus 500,000 shares for Cuprum Lease assignment.
Assets include 79 claims (Blue Jacket, Idaho), 71 claims (Copper Cliff, Idaho), and 65+ claims (Copper Butte, Arizona).
Closing expected by January 31, 2024, subject to delivery of quitclaim deed and lease assignment consents.
Transaction approved by boards of both Magellan Gold and Gold Express Mines (seller).

item 1.01 item 9.01

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

MAGELLAN COPPER & GOLD Corp entered into Purchase Agreement with Gold Express Mines, Inc. (effective 2024-01-07).

Action: entry
Agreement: asset purchase
Counterparty: Gold Express Mines, Inc.
Effective: 2024-01-07

Exact text from the filing

On January 7, 2024, Magellan Gold Corporation, a Nevada corporation (the “Company”), entered into a purchase agreement (the “Purchase Agreement”) with Gold Express Mines, Inc., a Nevada corporation (“GEM”), pursuant to which, among other things (i) the Company agreed to purchase certain mineral assets owned and controlled by GEM for a purchase price equal to 5,500,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”); and (ii) GEM agreed to assign to the Company a certain lease for mineral properties (the “Cuprum Lease”) for a purchase price of 500,000 shares of Common Stock (collectively, the “Transactions”).

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MAGELLAN COPPER & GOLD Corp filing history →

Source: SEC EDGAR

accession 0001683168-24-000219

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