Brief: Latin Metals Says Patagonia Will Make A Cash Payment To Co Of $250,000 Pursuant To Terms Of Option Agreement

Latin Metals

15/03/2021 13:19

March 15 (Reuters) - Latin Metals Inc  LMS.V :
    * PATAGONIA EXERCISES OPTION TO ACQUIRE LATIN METALS’ MINA
ANGELA
PROJECT, CHUBUT PROVINCE, ARGENTINA
    * LATIN METALS - PATAGONIA (THROUGH ITS UNIT) WILL MAKE A
CASH
PAYMENT TO CO OF US$250,000 PURSUANT TO TERMS OF OPTION
AGREEMENT
    * LATIN METALS - PURSUANT TO TERMS, CO WILL BE ENTITLED TO
RECEIVE
A 1.25% NET SMELTER RETURNS ROYALTY FROM FUTURE PRODUCTION ON
PROJECT
    * LATIN METALS INC - HALF OF ROYALTY CAN BE REPURCHASED BY
PATAGONIA FROM LATIN METALS AT ANY TIME FOR US$1 MILLION

Source text for Eikon:  ID:nGNXc1cMMb 
Further company coverage:  LMS.V 

 ((Reuters.Briefs@thomsonreuters.com;))