Mexican ferroalloys and managanese producer Minera Autlan has signed a debt forgiveness agreement with GFM Resources Ltd, a Canadian public company engaged in the business of mineral exploration in Mexico.
Minera Autlan, which is a majority shareholder at GFM Resources Ltd, forgave an aggregate of $1.7 million, including debt of GFM Resources’ Mexican subsidiary. As a result of the deal, GFM Resources has no further obligations with Minera Autlan.
Additionally, Minera Autlan sold an 85.77 percent stake at GFM Resources to Metallorum for a combined CAD 264,000 or 16,370,215 common shares.