REG - Guanajuato Silver Co - US$5M OCIM Silver-Gold Pre-Payment Facility Closed

Guanajuato SilverAnnouncement

31/03/2023 09:45

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RNS Number : 9370U  Guanajuato Silver Company Ltd.  31 March 2023

 

Guanajuato Silver Closes New US$5M Silver-Gold Pre-Payment Facility With OCIM

March 31, 2023 - Vancouver, British Columbia - Guanajuato Silver Company Ltd.
(the "Company" or "GSilver") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) is pleased
to announce that the Company has drawn down US$5M from its new silver and gold
pre-payment facility (the "New Pre-Payment Facility") with Swiss-based
precious metals trading firm, OCIM Metals & Mining S.A. ("OCIM") (See
Guanajuato Silver previous news release dated March 16, 2023 - "Guanajuato
Silver Arranges New US$5,000,000 Facility with OCIM")
(https://gsilver.com/news/2023c/845-uanajuatoilverrrangesew5000000acilitywith20230316)
. The net proceeds from the New Pre-Payment Facility will be used to
extinguish the previous OCIM prepayment facility in its totality, and for
capital expenditures related to ramp-up activities at all four of the
Company's producing silver mines.

James Anderson, Chairman and CEO stated: "Once again OCIM has shown a
willingness to work with Guanajuato Silver to extend the timeline of our
silver and gold payment obligations under previous agreements with them. This
facility enables the Company to focus more capital, more swiftly, toward
expanding production at all of our producing mines and continuing the trend of
considerable quarter over quarter production growth".

 

ON BEHALF OF THE BOARD OF DIRECTORS

"James Anderson"

Chairman and CEO

 

For further information regarding Guanajuato Silver Company Ltd., please
contact:

 

JJ Jennex, Communications Manager, +1 (604) 723-1433

 

Email: jjj@gsilver.com

 

Continue to watch our progress at: www.GSilver.com (http://www.GSilver.com)

 

VSA Capital - AQSE Corporate Adviser

 

T: +44 (0) 20 3005 5000

 

Simon Barton - Corporate Finance

 

Thomas Jackson - Corporate Finance

 

Andrew Monk - Corporate Broking

 

David Scriven - Corporate Broking

 

About Guanajuato Silver

GSilver is a precious metals producer engaged in reactivating past producing
silver and gold mines in central Mexico. The Company produces silver and gold
concentrates from the El Cubo Mine, Valenciana Mines Complex, and the San
Ignacio mine; all three mines are located within the state of Guanajuato,
which has an established 480-year mining history. Additionally, the Company
produces silver, gold, lead, and zinc concentrates from the Topia mine in
northwestern Durango. With four operating mines and three processing
facilities, Guanajuato Silver is one of the fastest growing silver producers
in Mexico.

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