RCS - DynaResource, Inc. - DynaResource, DynaResource De México Announcements
10/08/2023 14:15
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RNS Number : 8573I DynaResource, Inc. 10 August 2023
DynaResource, Inc. and DynaResource De México SA De CV Are Pleased to
Announce the Following
On August 3, 2023, Ocean Partners UK Limited purchased 1M Shares of
DynaResource, Inc. at $5 / Share; Total Price Paid by Ocean Partners UK
Limited of $5M USD.
Ocean Partners UK Limited, through its 100% owned subsidiary in Mexico, MK
Metal Trading SA de CV and DynaResource de Mexico SA de CV, the 100% owned
subsidiary of DynaResource, Inc. in Mexico, formalized a + 3 Year Extension of
Commercial Offtake Agreement through December 2026; with possible annual
continuations thereafter.
IRVING, TX / ACCESSWIRE / August 10, 2023 / DYNR-DynaResource, Inc.
(OTCQB:DYNR) ("DynaUSA", and "the Company") is pleased to announce the
following update regarding the Company and DynaResource de México SA de CV
("DynaMéxico"), the wholly owned subsidiary of DynaUSA and the 100% Owner of
Concessions comprising the prolific San Jose de Gracía high-grade gold
project in Sinaloa, México ("SJG"). All of these developments are in
fulfillment of the MOU between the Company and Ocean Partners UK Limited
("Ocean Partners"), which was previously disclosed to the Company's
shareholders.
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· The Company has entered into a Stock Purchase Agreement with
Ocean Partners (the "SPA"), under which the Company issued 1M shares of Common
Stock to Ocean Partners in exchange for $5M USD.
· Under the SPA, Ocean Partners will name one director to serve on
the Board of Directors of DynaUSA.
· Ocean Partners, through its 100% owned subsidiary in Mexico - MK
Metals Trading ("MK"), and DynaMéxico have formalized the extension of their
commercial offtake agreement through December 31, 2026, and with revision of
terms as per below:
o OP / MK agreed to Increase the Advance Credit Line available to
DynaMéxico to $17.5M USD.
o OP / MK agreed to provide an Option to convert the Advance Credit Line
into a Revolving Credit Line, repayable in 12 months, in maximum amount of
$10M USD.
The Company and DynaMéxico plan to utilize the funds received from Ocean
Partners to further expand and increase test mining and milling activities at
SJG, to continue exploration drilling and related exploration activities at
SJG, and for general corporate purposes.
In commenting on the transactions formalized with Ocean Partners and MK,
DynaUSA Chairman-CEO and DynaMéxico President Mr. K.D. Diepholz noted: "We
greatly appreciate the attention and support we have received from Ocean
Partners since February 2021, and we have enjoyed our professional working
relationship with Brent Omland, Al Paterson, and Roberto Guerra. We expect
Ocean Partners to make significant and strategic contributions to the further
advance and development of the prolific SJG Project. And, with this extension
of commercial offtake agreement formalized, DynaUSA and DynaMexico will
continue our excellent partnership with Ocean Partners for many years."
On behalf of Ocean Partners, Mr. Brent Omland, co-CEO of Ocean Partners
commented: "We are very pleased to expand our strong relationship with Dyna
and the excellent team in the US and Mexico and to join the shareholder
register. We are excited to be a part of the continuing development and
expansion of the world class SJG Project and provide K.D. and his team
additional support and resources."
On behalf of the Board of Directors of DynaResource, Inc.
K.D. DIEPHOLZ
DynaResource, Inc., Chairman and CEO.
DynaResource de México, S.A. de C.V., Presidente.
IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an "OTC Reporting Issuer" as that term is defined in
Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter
Markets, promulgated by various Canadian Provincial Securities Commissions.
Accordingly, certain disclosure in this news release or other disclosure
provided by the Company has been prepared in accordance with the requirements
of securities laws in effect in Canada, which differ from the requirements of
United States securities laws. In Canada, an issuer is required to provide
technical information with respect to mineralization, including reserves and
resources, if any, on its mineral exploration properties in accordance with
Canadian requirements, which differ significantly from the requirements of the
United States Securities and Exchange Commission (the "SEC") applicable to
registration statements and reports filed by United States companies pursuant
to the Securities Act of 1933, as amended, or the Securities Exchange Act of
1934, as amended. As such, information contained in this news release or other
disclosure provided by the Company concerning descriptions of mineralization
under Canadian standards may not be comparable to similar information made
public by United States companies subject to the reporting and disclosure
requirements of the SEC and not subject to Canadian securities legislation.
This news release or other disclosure provided by the Company may use the
terms "measured mineral resources", "indicated mineral resources" and
"inferred mineral resources". While these terms are recognized and required by
Canadian regulations (under National Instrument 43-101, Standards of
Disclosure for Mineral Projects), the SEC does not recognize them. United
States investors are cautioned not to assume that any part or all of the
mineral deposits in these categories will ever be converted to reserves. In
addition, "inferred mineral resources" have a great amount of uncertainty as
to their existence and economic and legal feasibility. It cannot be assumed
that all or any part of an inferred mineral resource will ever be upgraded to
a higher category. Under Canadian securities legislation, estimates of
inferred mineral resources may not form the basis of feasibility or
pre-feasibility studies, although they may form, in certain circumstances, the
basis of a "preliminary economic assessment" as that term is defined in
National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S.
investors are cautioned not to assume that part or all of an inferred mineral
resource exists or is economically or legally mineable.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This News release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934.
Certain information contained in this news release, including any information
relating to future financial or operating performance may be deemed
"forward-looking statements." All statements in this news release, other than
statements of historical fact, which address events or developments that
DynaResource expects to occur, are "forward-looking statements." These
statements relate to future events or future performance and reflect the
Company's expectations regarding the future growth, results of operations,
business prospects and opportunities of DynaResource. These forward-looking
statements reflect the Company's current internal projections, expectations or
beliefs and are based on information currently available to DynaResource. In
some cases, forward-looking information can be identified by terminology such
as "may", "will", "should", "expect", "intend", "plan", "anticipate",
"believe", "estimate", "projects", "potential", "scheduled", "forecast",
"budget" or the negative of those terms or other comparable terminology.
Certain assumptions have been made regarding the Company's plans at the San
Jose de Gracía property. Many of these assumptions are based on factors and
events that are not within the control of DynaResource and there is no
assurance they will prove to be correct. Such factors include, without
limitation: capital requirements, fluctuations in the international currency
markets and in the rates of exchange of the currencies of the United States
and México; price volatility in the spot and forward markets for commodities;
discrepancies between actual and estimated production, between actual and
estimated reserves and resources and between actual and estimated
metallurgical recoveries; changes in national and local governments in any
country which DynaResource currently or may in the future carry on business;
taxation; controls; regulations and political or economic developments in the
countries in which DynaResource does or may carry on business; the speculative
nature of mineral exploration and development, including the risks of
obtaining necessary licenses and permits, diminishing quantities or grades of
reserves; competition; loss of key employees; additional funding requirements;
actual results of current exploration or reclamation activities; changes in
project parameters as plans continue to be refined; accidents; labor disputes;
defective title to mineral claims or property or contests over claims to
mineral properties. In addition, there are risks and hazards associated with
the business of mineral exploration, development and mining, including
environmental hazards, industrial accidents, unusual or unexpected formations,
pressures, cave-ins, flooding and gold bullion losses (and the risk of
inadequate insurance or inability to obtain insurance, to cover these risks)
as well as those risks referenced in the Annual Report for DynaResource
available at www.sec.gov. Forward-looking statements are not a guarantee of
future performance, and actual results and future events could differ
materially from those discussed in the forward-looking statements. All
forward-looking statements contained in this news release are qualified by
these cautionary statements. Although DynaResource believes that the
forward-looking statements contained in this news release are based on
reasonable assumptions, readers cannot be assured that actual results will be
consistent with such statements. Accordingly, readers are cautioned against
placing undue reliance on forward-looking statements. DynaResource expressly
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, events or otherwise.
For further information on DynaUSA and DynaMéxico,
visit www.dynaresource.com (https://pr.report/eMU6sSL8) .
Contact Information
Brad J. Saulter
DynaUSA V.P. - Investor Relations
972-868-9066
SOURCE: DynaResource, Inc.
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