Mercado Minerals closes acquisition of Concordia Silver

Executive Summary

• Mercado Minerals Ltd. has completed the acquisition of Concordia Silver Company SA de CV, a privately held Mexican corporation holding mineral properties in Sinaloa, Mexico.
• The transaction consideration consists of $105,000 USD in cash and the issuance of ten million common shares to vendors, with specific vesting schedules for the shares.
• An additional 300,000 common shares were issued to a third-party introducer for facilitating the deal.

Key Details

• Transaction Structure: Mercado Minerals acquired 100% of the outstanding share capital of Concordia Silver Company SA de CV.
• Cash Consideration: $105,000 USD paid to Concordia shareholders.
• Equity Consideration (Vendors):
  • 6,000,000 common shares issued at closing.
  • 2,000,000 common shares to be issued on the first anniversary of closing.
  • 2,000,000 common shares to be issued on the second anniversary of closing.
  • Total vendor shares: 10,000,000 common shares.
• Share Restrictions: The consideration shares are subject to resale restrictions, released in four equal tranches every six months over a 24-month period.
• Finder’s Fee/Introduction: 300,000 common shares issued to an arm's-length third party who introduced Concordia to Mercado Minerals.
• Target Assets: Concordia holds mineral properties located in Sinaloa, Mexico.

Notable Quotes

• None provided in the release.