Minera Autlan forgives $1.7 million debt from GFM Resources

Thursday, 06 July 2017 10:04:19 (GMT+3)   |   Sao Paulo
       

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.


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