Great Panther Mining Limited closes the sale of its Guanajuato Mine Complex and Topia Mine to Guanajuato Silver Company Ltd.
August 04, 2022
14.70 Million USD
On August 4, 2022, Great Panther Mining Limited ("Great Panther") closed the sale of the Guanajuato Mine Complex ("GMC") and Topia mine ("Topia"), previously owned by its Mexican subsidiary Minera Mexicana El Rosario S.A. de C.V., to Guanajuato Silver Company Ltd. ("GSilver"). On completion of the transaction, Great Panther received 25,787,200 common shares of GSilver, and US$9,350,000 in cash. Additionally, Great Panther will receive up to US$2 million in milestone payments based on production from GMC/Topia and the price of silver.
McCarthy Tétrault advised Great Panther with a team led by Robin Mahood that included Shawn Doyle, Thomas Fung, Erin O’Callaghan (Business) and Jeremy Ho (Tax). This is one among several transactions and other matters in respect of which the firm has recently advised Great Panther.