Americas Gold and Silver to Settle Silver Delivery Obligation With Shares

MT Newswires Live

05/22

Americas Gold and Silver (USAS) said Friday it reached an agreement with Sprott Mining to terminate the remaining obligation under its Silver Delivery Agreement.

The company said it will settle the remaining 592,000 ounces of silver owed under the agreement by issuing about 8 million shares to Sprott Mining at a deemed price of $5.57 per share.

The share issuance is subject to approval from the Toronto Stock Exchange and will carry a four-month holding period under securities laws, it added.

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