Marifil Mines Ltd. (TSXV:MFM) announced its acquisition of the Argentina-based Arroyo Verde project.

As quoted in the press release:

The terms of the agreement call for an initial payment of $35,000 (paid) with escalating payments of $735,000 over six years with a final payment of $2,800,000 at the end of the sixth year. The seller retains a 1% Net Smelter Royalty but the Company can purchase the royalty for $2,000,000. All dollar amounts are in US dollars.

Click here for the Marifil Mines Ltd. (TSXV:MFM) press release.