Mogotes Metals Closes Acquisition of Argentina Land Package

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Mogotes Metals Closes Acquisition of Argentina Land Package

, MT Newswires - 1:26 PM ET 3/26/2025 mergers-and-acquisitions

01:26 PM EDT, 03/26/2025 (MT Newswires) -- Mogotes Metals ( MOGMF ) on Wednesday said it obtained TSX Venture Exchange approvals in connection with the agreement with Golden Arrow Resources ( GARWF ) amending the previously executed earn-in agreement covering the Argentine land package of Golden Arrow's Filo Sur project to buy a 100% interest in the Filo Sur project.

The company paid Golden Arrow $550,000 and issued 10.71-million shares to Golden Arrow, upon closing of the deal.

Mogotes Metals ( MOGMF ) also invested $450,000 in Golden Arrow by way of a private placement, subscribing for units of Golden Arrow at $0.05 apiece. Each Unit consists of one common share in the capital of Golden Arrow and one common share purchase warrant exercisable at $0.08 per common share purchase warrant for period of three years from the closing date.

The company said it will issue additional common shares to Golden Arrow valued at $1.5 million, on or before the first anniversary of closing of the deal.

Shares of the company were last seen unchanged at $0.125 on the TSX Venture Exchange.

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