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AbraPlata Provides Diablillos PEA Status Update and Announces Expiry of Anti-Dilution Right Held by SSR Mining
Feb. 26, 2018 08:52AM PST
Gold InvestingAbraPlata Resource (“AbraPlata” or the “Company”) (TSX-V:ABRA) (OTC:ABBRF) (Frankfurt:1AH) is pleased to announce that the Preliminary Economic Assessment (“PEA”) of the Diablillos Ag-Au project is nearing completion and the Company expects to announce the results by the end of February 2018. The Company is also pleased to report that the contractual anti-dilution right (the “Anti-Dilution …
AbraPlata Resource (“AbraPlata” or the “Company”) (TSX-V:ABRA) (OTC:ABBRF) (Frankfurt:1AH) is pleased to announce that the Preliminary Economic Assessment (“PEA”) of the Diablillos Ag-Au project is nearing completion and the Company expects to announce the results by the end of February 2018.
The Company is also pleased to report that the contractual anti-dilution right (the “Anti-Dilution Right”) held by SSR Mining (formerly Silver Standard Resources) (“SSR Mining”) under the second amended and restated share purchase agreement dated March 21, 2017 (the “SSR Agreement”), which entitled SSR Mining to maintain a free carried 19.9% equity interest in the Company has now expired.
Hernan Zaballa, Chairman of AbraPlata, commented:
“Previously, AbraPlata was obligated to issue shares of the Company to SSR Mining each time we did an equity financing. Now that we have fulfilled the “Qualifying Financing” requirement associated with the purchase of Diablillos, SSR Mining will be required to pay for shares they receive in future financings.”