- Great Panther Mining Limited (GPR) has signed a share purchase agreement to sell its subsidiaries to Newrange Gold Corp.
- Newrange will acquire the subsidiaries for a total purchase price of US$750,000 cash
- The subsidiaries include Great Panther Peru Holdings Ltd. and Great Panther Silver Peru S.A.C., which together own Great Panther Coricancha S.A.C.
- Great Panther Coricancha S.A.C.’s main asset is the Coricancha Mine in Peru
- It was largely a gold and silver-producing mine
- Great Panther Mining Limited (GPR) is unchanged, trading at $1.09 per share as of 1:46 p.m. ET
Great Panther Mining Limited (GPR) has signed a share purchase agreement to sell its subsidiaries to Newrange Gold Corp.
Under the terms of the agreement, Newrange will acquire the subsidiaries for a total purchase price of US$750,000, which will be paid in cash.
The subsidiaries include Great Panther Peru Holdings Ltd. and Great Panther Silver Peru S.A.C., which together own Great Panther Coricancha S.A.C.
Great Panther Coricancha S.A.C.’s main asset is the Coricancha Mine, located in the central Andes of Peru, just east of Lima.
Coricancha was largely a gold- and silver-producing mine, which the company acquired in June 2017 and has remained in its care and maintenance since then.
Great Panther Mining Limited (GPR) is unchanged, trading at $1.09 per share as of 1:46 p.m. ET.