CleanTech To Acquire Rights to El Triunfo Gold-Antimony Project in Bolivia from Silver Elephant
Silver Elephant Mining Corp. (SILEF) has announced an agreement to assign its rights to the El Triunfo Gold-Antimony Project in Bolivia to CleanTech Vanadium Mining Corp. for CAD 155,000 in cash. The transaction involves transferring Silver Elephant's option to acquire 100% equity in Mururata S.R.L., which owns the Bolivian mining rights.
The El Triunfo Project, located 75km east of La Paz, Bolivia, covers approximately 256 hectares. The deal's closing is contingent on several conditions, including due diligence completion, regulatory approvals, and an amendment to the original 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 overlapping leadership positions between the companies, with several executives and directors serving both entities. Key officers John Lee and Greg Hall declared their interest and abstained from voting on the transaction.
Silver Elephant Mining Corp. (SILEF) ha annunciato un accordo per cedere i suoi diritti sul Progetto Oro-Antimonio El Triunfo in Bolivia a CleanTech Vanadium Mining Corp. per CAD 155.000 in contante. La transazione prevede il trasferimento dell'opzione di Silver Elephant per acquisire il 100% delle azioni di Mururata S.R.L., che detiene i diritti minerari boliviani.
Il Progetto El Triunfo, situato a 75 km a est di La Paz, Bolivia, copre circa 256 ettari. La chiusura dell'accordo è soggetta a diverse condizioni, tra cui il completamento della due diligence, le approvazioni normative e una modifica all'originale 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 di sovrapposizioni nelle posizioni dirigenziali tra le aziende, con diversi dirigenti e direttori che servono entrambe le entità. I funzionari chiave John Lee e Greg Hall hanno dichiarato il loro interesse e si sono astenuti dal votare sulla transazione.
Silver Elephant Mining Corp. (SILEF) ha anunciado un acuerdo para ceder sus derechos sobre el Proyecto de Oro-Antimonio El Triunfo en Bolivia a CleanTech Vanadium Mining Corp. por CAD 155,000 en efectivo. La transacción implica la transferencia de la opción de Silver Elephant para adquirir el 100% de las acciones de Mururata S.R.L., que posee los derechos mineros bolivianos.
El Proyecto El Triunfo, ubicado a 75 km al este de La Paz, Bolivia, abarca aproximadamente 256 hectáreas. El cierre del acuerdo está condicionado a varias condiciones, incluyendo la finalización de la debida diligencia, las aprobaciones regulatorias y una enmienda al Acuerdo de Opción Triunfo original. CleanTech ha proporcionado un depósito reembolsable de $155,000, que será devuelto si la transacción no se completa antes del 31 de diciembre de 2025.
La transacción se clasifica como No Relacionada debido a las posiciones de liderazgo superpuestas entre las empresas, con varios ejecutivos y directores que sirven a ambas entidades. Los funcionarios clave John Lee y Greg Hall declararon su interés y se abstuvieron de votar sobre la transacción.
실버 엘리펀트 마이닝 주식회사 (SILEF)는 볼리비아의 엘 트리운포 금-안티몬 프로젝트에 대한 권리를 클린테크 바나듐 마이닝 주식회사에 CAD 155,000의 현금으로 양도하는 계약을 발표했습니다. 이 거래는 볼리비아 광산 권리를 소유한 무루라타 S.R.L.의 100% 지분을 인수할 수 있는 실버 엘리펀트의 옵션을 이전하는 것을 포함합니다.
엘 트리운포 프로젝트는 볼리비아 라파즈에서 동쪽으로 75km 떨어진 곳에 위치하며, 면적은 약 256헥타르입니다. 거래의 성사는 여러 조건에 따라 달라지며, 여기에는 실사 완료, 규제 승인 및 원래의 트리운포 옵션 계약 수정이 포함됩니다. 클린테크는 거래가 2025년 12월 31일 이전에 완료되지 않을 경우 환불 가능한 $155,000의 보증금을 제공했습니다.
이 거래는 두 회사 간의 중복된 경영진 위치로 인해 비독립 거래로 분류되며, 여러 임원 및 이사가 두 기관에서 모두 활동하고 있습니다. 주요 임원인 John Lee와 Greg Hall은 자신의 이해관계를 선언하고 거래에 대한 투표를 기권했습니다.
Silver Elephant Mining Corp. (SILEF) a annoncé un accord pour céder ses droits sur le projet d'or-antimoine El Triunfo en Bolivie à CleanTech Vanadium Mining Corp. pour CAD 155 000 en espèces. La transaction implique le transfert de l'option de Silver Elephant d'acquérir 100 % des actions de Mururata S.R.L., qui possède les droits miniers boliviens.
Le projet El Triunfo, situé à 75 km à l'est de La Paz, en Bolivie, couvre environ 256 hectares. La conclusion de l'accord est soumise à plusieurs conditions, y compris l'achèvement de la diligence raisonnable, les approbations réglementaires et une modification de l'accord d'option Triunfo original. 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 indépendante en raison de la superposition des postes de direction entre les entreprises, plusieurs dirigeants et administrateurs servant les deux entités. Les responsables clés John Lee et Greg Hall ont déclaré leur intérêt et se sont abstenus de voter sur la transaction.
Silver Elephant Mining Corp. (SILEF) hat eine Vereinbarung bekannt gegeben, um seine Rechte am El Triunfo Gold-Antimon-Projekt in Bolivien an CleanTech Vanadium Mining Corp. für CAD 155.000 in bar abzutreten. Die Transaktion umfasst die Übertragung der Option von Silver Elephant, 100% der Anteile an Mururata S.R.L. zu erwerben, die die bolivianischen Bergbaurechte besitzt.
Das El Triunfo Projekt, das 75 km östlich von La Paz, Bolivien, liegt, umfasst etwa 256 Hektar. Der Abschluss des Deals hängt von mehreren Bedingungen ab, darunter der Abschluss der Due Diligence, regulatorische Genehmigungen und eine Änderung des ursprünglichen 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 als Nicht-Armlängen-Transaktion eingestuft, da es überlappende Führungspositionen zwischen den Unternehmen gibt, wobei mehrere Führungskräfte und Direktoren beiden Einrichtungen dienen. Die Schlüsselbeamten John Lee und Greg Hall haben ihr Interesse erklärt und sich der Abstimmung über die Transaktion enthalten.
- Asset monetization through CAD 155,000 cash payment
- Risk-free transaction with refundable deposit
- Non-arm's length transaction raises potential conflict of interest concerns
- Complex closing conditions could delay or prevent deal completion
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/247790
FAQ
What is the value of the El Triunfo Project acquisition by CleanTech from Silver Elephant (SILEF)?
Where is the El Triunfo Gold-Antimony Project that SILEF is selling located?
What are the closing conditions for SILEF's El Triunfo Project sale?
When is the deadline for completing SILEF's El Triunfo Project transaction?
Why is the El Triunfo Project sale considered a Non-Arm's Length transaction for SILEF?
