CleanTech To Acquire Rights to El Triunfo Gold-Antimony Project in Bolivia from Silver Elephant
CleanTech Vanadium Mining (TSXV: CTV) (OTCQB: CTVFF) has entered into an option assignment agreement with Silver Elephant Mining (TSX: ELEF) to acquire rights to the El Triunfo Gold-Antimony Project in Bolivia for CAD 155,000 in cash.
The Triunfo Project, spanning approximately 256 hectares, is located in Bolivia's La Paz department, 75km east of La Paz city. The transaction involves Silver Elephant assigning its rights from a July 10, 2020 option agreement to acquire 100% equity interests in Mururata S.R.L., which owns the mining rights.
The deal's closing is contingent on several conditions, including due diligence completion, regulatory approvals, and an acceptable amendment to the Triunfo Option Agreement. CleanTech has provided a refundable deposit of $155,000, returnable if the transaction isn't completed by December 31, 2025. The transaction is classified as Non-Arm's Length due to shared leadership between both companies.
CleanTech Vanadium Mining (TSXV: CTV) (OTCQB: CTVFF) ha stipulato un accordo di assegnazione di opzione con Silver Elephant Mining (TSX: ELEF) per acquisire i diritti sul Progetto Oro-Antimonio El Triunfo in Bolivia per 155.000 CAD in contante.
Il Progetto Triunfo, che si estende su circa 256 ettari, si trova nel dipartimento di La Paz in Bolivia, a 75 km a est della città di La Paz. La transazione prevede che Silver Elephant ceda i suoi diritti da un accordo di opzione del 10 luglio 2020 per acquisire il 100% degli interessi azionari in Mururata S.R.L., che possiede i diritti minerari.
La chiusura dell'affare è soggetta a diverse condizioni, tra cui il completamento della due diligence, le approvazioni normative e una modifica accettabile all'Accordo di Opzione Triunfo. CleanTech ha fornito un deposito rimborsabile di 155.000$, restituibile se la transazione non viene completata entro il 31 dicembre 2025. La transazione è classificata come Non-Arm's Length a causa della leadership condivisa tra le due aziende.
CleanTech Vanadium Mining (TSXV: CTV) (OTCQB: CTVFF) ha firmado un acuerdo de asignación de opción con Silver Elephant Mining (TSX: ELEF) para adquirir los derechos sobre el Proyecto de Oro-Antimonio El Triunfo en Bolivia por 155,000 CAD en efectivo.
El Proyecto Triunfo, que abarca aproximadamente 256 hectáreas, se encuentra en el departamento de La Paz de Bolivia, a 75 km al este de la ciudad de La Paz. La transacción implica que Silver Elephant asigne sus derechos de un acuerdo de opción del 10 de julio de 2020 para adquirir el 100% de los intereses de capital en Mururata S.R.L., que posee los derechos mineros.
El cierre del acuerdo está sujeto a varias condiciones, incluyendo la finalización de la debida diligencia, las aprobaciones regulatorias y una enmienda aceptable al Acuerdo de Opción Triunfo. CleanTech ha proporcionado un depósito reembolsable de 155,000$, que se devolverá si la transacción no se completa antes del 31 de diciembre de 2025. La transacción se clasifica como No de Terceros debido a la dirección compartida entre ambas compañías.
클린테크 바나듐 마이닝 (TSXV: CTV) (OTCQB: CTVFF)는 실버 엘리펀트 마이닝 (TSX: ELEF)와 보리비아의 엘 트리운포 금-안티몬 프로젝트에 대한 권리를 인수하기 위한 옵션 양도 계약을 체결했습니다. 금액은 155,000 CAD입니다.
트리운포 프로젝트는 약 256헥타르에 걸쳐 있으며, 보리비아의 라파즈 지역에 위치하고 있으며, 라파즈 시에서 동쪽으로 75km 떨어져 있습니다. 이번 거래는 실버 엘리펀트가 2020년 7월 10일에 체결한 옵션 계약에서 무루라타 S.R.L.의 100% 지분을 인수할 권리를 양도하는 내용을 포함하고 있습니다.
거래의 성사는 여러 조건에 따라 달라지며, 여기에는 실사 완료, 규제 승인 및 트리운포 옵션 계약에 대한 수용 가능한 수정이 포함됩니다. 클린테크는 155,000달러의 환불 가능한 보증금을 제공했으며, 거래가 2025년 12월 31일까지 완료되지 않을 경우 반환됩니다. 이 거래는 두 회사 간의 공동 리더십으로 인해 비상장 거래로 분류됩니다.
CleanTech Vanadium Mining (TSXV: CTV) (OTCQB: CTVFF) a conclu un accord de cession d'option avec Silver Elephant Mining (TSX: ELEF) pour acquérir les droits sur le Projet Or-Antimoine El Triunfo en Bolivie pour 155 000 CAD en espèces.
Le Projet Triunfo, qui s'étend sur environ 256 hectares, est situé dans le département de La Paz en Bolivie, à 75 km à l'est de la ville de La Paz. La transaction implique que Silver Elephant cède ses droits d'un accord d'option du 10 juillet 2020 pour acquérir 100 % des intérêts en capital dans Mururata S.R.L., qui détient les droits miniers.
La conclusion de l'accord est soumise à plusieurs conditions, notamment l'achèvement de la diligence raisonnable, les approbations réglementaires et une modification acceptable de l'Accord d'Option Triunfo. CleanTech a fourni un dépôt remboursable de 155 000 $, qui sera restitué si la transaction n'est pas finalisée d'ici le 31 décembre 2025. La transaction est classée comme Non-Arm's Length en raison de la direction partagée entre les deux entreprises.
CleanTech Vanadium Mining (TSXV: CTV) (OTCQB: CTVFF) hat eine Optionsübertragungsvereinbarung mit Silver Elephant Mining (TSX: ELEF) unterzeichnet, um die Rechte am El Triunfo Gold-Antimon-Projekt in Bolivien für 155.000 CAD in bar zu erwerben.
Das Triunfo-Projekt erstreckt sich über etwa 256 Hektar und befindet sich im Departement La Paz in Bolivien, 75 km östlich der Stadt La Paz. Die Transaktion umfasst die Übertragung der Rechte von Silver Elephant aus einem Optionsvertrag vom 10. Juli 2020 zur Übernahme von 100% der Eigenkapitalanteile an Mururata S.R.L., die die Bergbaurechte besitzt.
Der Abschluss des Deals hängt von mehreren Bedingungen ab, einschließlich des Abschlusses der Due Diligence, regulatorischer Genehmigungen und einer akzeptablen Änderung des Triunfo-Optionsvertrags. CleanTech hat eine rückzahlbare Anzahlung von 155.000 $ geleistet, die zurückgegeben wird, wenn die Transaktion bis zum 31. Dezember 2025 nicht abgeschlossen ist. Die Transaktion wird aufgrund der gemeinsamen Führung zwischen beiden Unternehmen als Nicht-Arms-Length eingestuft.
- Low-cost acquisition at CAD 155,000 for a gold-antimony project
- Strategic location near La Paz city with 256 hectares of mining rights
- Refundable deposit structure protects company's cash position
- Non-Arm's Length transaction due to overlapping management raises potential conflict of interest concerns
- Multiple closing conditions could delay or prevent deal completion
- No immediate revenue generation as project is still in early stage
Vancouver, British Columbia--(Newsfile Corp. - April 8, 2025) - Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE:1P2) ("Silver Elephant") and CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) ("CleanTech") are pleased to announce that they have entered into an option assignment agreement (the "Option Assignment Agreement") pursuant to which Silver Elephant proposes to assign its rights in and to an option agreement dated July 10, 2020 (the "Triunfo Option Agreement") pursuant to which, among other things, Silver Elephant has the right, through a wholly owned subsidiary of Silver Elephant, to acquire
Closing of the Transaction is subject to the satisfaction of certain conditions precedent thereto including, without limitation, satisfactory completion of due diligence in respect of the Triunfo Project by CleanTech, the receipt of the requisite regulatory and stock exchange approvals by each of Silver Elephant and CleanTech, and the execution of an amendment to the Triunfo Option Agreement in form and substance acceptable to CleanTech. CleanTech has provided Silver Elephant with a refundable deposit in the amount of
For purposes of Policy 5.3 of the TSX Venture Exchange, the Transaction is Non-Arm's Length as John Lee is a Director and Chief Executive Officer of Silver Elephant and CleanTech, Greg Hall is a Director of Silver Elephant and CleanTech, Andrew Yao is the Chief Financial Officer of Silver Elephant and CleanTech, Sara Knappe is the Corporate Secretary of Silver Elephant and CleanTech and Alex Bayer is the Chief Legal Officer of Silver Elephant and CleanTech. Both Mr. Lee and Mr. Hall declared their interest and abstained from voting on the Transaction.
The Triunfo Project is a Gold-Antimony project located in the Bolivian department of La Paz, about 75km to the east of Bolivia's capital city of La Paz and spans an area of approximately 256 hectares.
About Silver Elephant Mining Corp.
Silver Elephant is a mineral exploration company with precious metal projects in Bolivia.
Further information on Silver Elephant can be found at www.silverelef.com.
About CleanTech Vanadium Mining Corp.
CleanTech is an exploration-stage mining company focused on vanadium and critical mineral resources. The Company owns a
Further information on CleanTech can be found at www.cleantechvanadium.com.
SILVER ELEPHANT MINING CORP.
ON BEHALF OF THE BOARD
"John Lee"
CEO and Executive Chairman
For more information about Silver Elephant, please contact Investor Relations:
Phone: 1.604.569.3661 ext. 101
info@silverelef.com
www.silverelef.com
CLEANTECH VANADIUM MINING CORP.
ON BEHALF OF THE BOARD
"Masateru Igata"
Director
For more information about CleanTech, please contact:
Phone: 1.877.664.2535
info@cleantechvanadium.com
www.cleantechvanadium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements and Cautionary Disclaimers
References to $ herein refer to the lawful currency of Canada.
Completion of the Transaction is subject to a number of conditions, including but not limited to, completion of due diligence by CleanTech, regulatory and stock exchange acceptance, and execution of an amendment to the Triunfo Option Agreement. Where applicable, the Transaction cannot close until the required approvals are obtained.
There can be no assurance that the Transaction will be completed as proposed or at all. Trading in the securities of each of Silver Elephant and CleanTech should be considered highly speculative.
Neither the Toronto Stock Exchange nor the TSX Venture Exchange has in any way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.
This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This news release contains certain "forward-looking statements" and "forward-looking information" under applicable Canadian and United States securities laws. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the Transaction, the composition of consideration for the Transaction, the terms of the Transaction and the closing of the Transaction (including the timing thereof), and the ability of each of Silver Elephant and CleanTech to obtain the requisite stock exchange, regulatory and other approvals in connection with the Transaction. Except for statements of historical fact relating to each of Silver Elephant and CleanTech, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be", "potential" and other similar words, or statements that certain events or conditions "may", "should" or "will" occur, including, without limitation, that all conditions precedent to the Transaction will be met and the realization of the anticipated benefits derived therefrom for shareholders of each of Silver Elephant and CleanTech and perception of (i) the quality and the potential of the Project, (ii) the consideration offered to CleanTech by Silver Elephant for the Project, and (iii) the potential of each of Silver Elephant's and CleanTech's businesses following completion of the Transaction. Forward-looking statements are based on the opinions and estimates of management of each of Silver Elephant and CleanTech at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Silver Elephant and CleanTech, there is no assurance they will prove to be correct and are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.
Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include changes in market conditions; cash flow and availability of financing; the ability of each of Silver Elephant and CleanTech to obtain the requisite stock exchange, regulatory and other third party approvals; risks relating to the availability and timeliness of permitting and governmental approvals; supply of, and demand for metals; fluctuating commodity prices and currency exchange rates; the possibility of project cost overruns or unanticipated costs and expenses; labour disputes and other risks of the mining industry.
These factors are discussed in greater detail in CleanTech's and Silver Elephant's most recent MD&As filed on SEDAR+ at www.sedarplus.ca, which also provide additional general assumptions in connection with these statements. Each of Silver Elephant and CleanTech cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Each of Silver Elephant and CleanTech believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Although each of Silver Elephant and CleanTech has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Neither Silver Elephant nor CleanTech undertakes any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered as the property is developed. Further, each of Silver Elephant and CleanTech may make changes to its business plans that could affect results.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247788
FAQ
What is the purchase price for CleanTech's acquisition of the El Triunfo Gold-Antimony Project (CTVFF)?
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