Inomin Mines closes sale of La Gitana, Pena Blanca

Executive Summary

• Inomin Mines Inc. completed the sale of its Mexican subsidiary, Minera Rio Dorado S.A. de C.V., which owned 100 % of the La Gitana and Peña Blanca gold‑silver mining concessions in Oaxaca, Mexico.
• The transaction was executed with Calu Royalty S.A.P.I. de C.V. for a total cash consideration of $350,000.
• Payments received: $100,000 at execution, $100,000 on closing, and the remaining $150,000 contingent on concession registration or six‑month deadline.

Key Details

• Seller: Inomin Mines Inc. (through its 100 % owned subsidiary Minera Rio Dorado S.A. de C.V.)
• Buyer: Calu Royalty S.A.P.I. de C.V., an arm’s‑length party.
• Assets Sold: All issued and outstanding shares of Minera Rio Dorado S.A. de C.V., which held the La Gitana and Peña Blanca gold‑silver mining concessions in Oaxaca, Mexico.
• Purchase Price: $350,000 cash total.
• $100,000 received upon execution of the definitive purchase agreement.
• $100,000 received at transaction closing.
• Remaining $150,000 payable on the earlier of (a) registration of the mining concessions to the buyer in the Mexico public mining registry, or (b) six months after the definitive purchase agreement date.
• Transaction Structure: Straight cash sale of subsidiary shares; no earn‑outs, royalties, or contingent consideration beyond the final payment condition.

Notable Quotes

(No executive quotes were provided in the release.)