Fortuna announces sale of common shares of Keon Capital Inc.

Rhea-AI Summary

Fortuna Silver Mines (NYSE: FSM) announced the sale of 515,365 common shares in Keon Capital Inc. on September 7, 2021. The shares were sold at C$0.10 each, totaling C$51,536.50. This transaction represents approximately 26.9% of Keon’s total outstanding shares. Post-sale, Fortuna no longer holds any shares in Keon and has no plans to acquire further securities related to the company. The required early warning report will be filed on SEDAR for transparency.

Positive

• Successfully sold 515,365 shares in Keon Capital Inc.
• Generated proceeds of C$51,536.50 from the share sale

Negative

• Disposal of all holdings in Keon Capital Inc. may indicate a shift in investment strategy.

VANCOUVER, British Columbia, Sept. 08, 2021 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) announced that on September 7, 2021 the company entered into agreements with two private purchasers providing for the sale of an aggregate of 515,365 common shares (the “Sale Shares”) held by Fortuna in Keon Capital Inc. (formerly Prospero Silver Corp.) (“Keon”), at a purchase price of C$0.10 per common share, for aggregate proceeds of C$51,536.50.

The Sale Shares represent approximately 26.9% of the issued and outstanding common shares of Keon as of September 7, 2021. Upon completion of the transactions contemplated in the sale agreements, Fortuna disposed of all its common shares in Keon and does not hold any common shares or securities in Keon.   Fortuna disposed of the Sale Shares for investment purposes and currently has no plan or proposal which relates to or would result in acquiring ownership or control over securities of Keon.

A copy of the early warning report required to be filed by Fortuna with respect to the foregoing matters will be filed and made available under Keon’s profile on SEDAR. A copy of the early warning report may also be obtained by contacting Fortuna’s Corporate Secretary at +1.604.484.4085.

About Fortuna Silver Mines Inc.

Fortuna Silver Mines Inc. is a Canadian precious metals mining company with four operating mines in Argentina, Burkina Faso, Mexico and Peru, and an advanced development project in Côte d’Ivoire. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our shareholders and stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website.

ON BEHALF OF THE BOARD

Jorge A. Ganoza
President, CEO, and Director
Fortuna Silver Mines Inc.

Investor Relations:
Carlos Baca | info@fortunasilver.com

FAQ

What did Fortuna Silver Mines announce on September 7, 2021?

Fortuna Silver Mines announced the sale of 515,365 common shares in Keon Capital Inc. for C$51,536.50.

How much did Fortuna Silver Mines earn from its sale of shares in Keon?

Fortuna Silver Mines earned C$51,536.50 from the sale of its shares in Keon Capital Inc.

What percentage of Keon Capital Inc. shares did Fortuna sell?

Fortuna sold approximately 26.9% of the issued and outstanding common shares of Keon Capital Inc.

Does Fortuna Silver Mines plan to acquire more shares in Keon after this sale?

No, Fortuna Silver Mines has stated it has no plans to acquire more shares or securities in Keon.