Endeavour Silver to sell 1% stake in Cozamin Royalty to Gold royalty for $7.5M

Endeavour Silver (EXK) is pleased to announce that its wholly-owned subsidiary, Minera Plata Adelante SA de CV, has entered into an agreement with Gold Royalty (GROY) to sell all of MPA’s interest in the 1% Cozamin royalty for total consideration of $7.M, payable in cash. The Royalty applies to two concessions (Calicanto and Vicochea) on Capstone’s Cozamin copper-silver mine, located 3.6 kilometres north-northwest of Zacatecas City in state of Zacatecas, Mexico. The company obtained the Royalty through a concession division agreement signed in 2017 on seven wholly owned concessions which were acquired for $445,000 The Cozamin Mine, a copper-silver mine owned and operated by Capstone Copper in Zacatecas, Mexico, is located on two of the seven Concessions. The sale agreement includes an option granted to Gold Royalty Corp to purchase any additional royalties which may be granted on the five remaining concessions under the 2017 concession division agreement. The definitive agreement is subject to standard closing conditions and is expected to be completed by August 31, 2023.