RCS - DynaResource, Inc. - DynaResource, Inc. Extends Offtake Agreement
07/07/2023 08:15
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RNS Number : 2685F DynaResource, Inc. 06 July 2023
DynaResource, Inc. and DynaResource De México SA De CV. Announce Extension of
Offtake Agreement With Ocean Partners Holdings Ltd.
Extension of Commercial Offtake Agreement through December, 2026; Ocean
Partners to Purchase 1M Shares of Common Stock of DynaResource, Inc. at $5 /
Share
IRVING, TX / ACCESSWIRE / July 6, 2023 / DynaResource, Inc. (OTCQB:DYNR)
("DynaUSA", and "the Company") is pleased to report 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 San Jose de Gracía high grade gold project in Sinaloa, México
("SJG").
Ocean Partners Holdings Ltd. ("Ocean Partners", "OP") and DynaMéxico have
agreed:
· To extend the current commercial Offtake Agreement through
December 2026;
· OP to Increase the Advance Credit Line available to DynaMéxico
to $17.5M USD;
· OP 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;
Ocean Partners and DynaUSA have agreed:
· Ocean Partners will purchase 1M Shares of DynaUSA at $5 / Share;
· 1 Designee of Ocean Partners will be named to the Board of
Directors of DynaUSA
In commenting on the transactions with Ocean Partners; 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 in particular; Brent Omland, Al Paterson, and Roberto Guerra. Now,
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 the Board of Directors of DynaResource, Inc.;
On behalf of the Board of Directors of DynaResource de México S.A. de C.V.;
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 (https://pr.report/vuGsiO2M) . 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, please visit
www.dynaresource.com (https://pr.report/axRuiohs) or contact:
Brad J. Saulter, DynaUSA V.P. - Investor Relations; US Telephone: 972-868-9066
K.D. Diepholz, DynaUSA - Chairman / CEO DynaResource de México, S.A. de C.V.
- Presidente
Contact Information
Brad J. Saulter
DynaUSA V.P. - Investor Relations
972-868-9066
SOURCE: DynaResource, Inc.
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