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Minco Silver Corp.
Minco Silver Corp.
Registriert in: Kanada WKN: A0ESX5 Rohstoffe:
Art: Originalaktie ISIN: CA60254C1005 Silber
Blei
Zink
Heimatbörse: TSX Venture Alternativ: MISVF
Währung: CAD    
Symbol: MSV.TO Forum:

Minco Silver Purchases Stake in Sichuan Hexie Shuangma Cement Company

19.10.2022 | 12:00 Uhr | CNW

VANCOUVER, Oct. 19, 2022 - Minco Silver Corp. (the "Company" or "Minco Silver") (TSX: MSV) is pleased to announce that it has entered into a transfer agreement to acquire a stake in Sichuan Hexie Shuangma Co., Ltd. ("Hexie"), one of the largest cement manufacturing companies in China and the owner of several limestone mines.

Under the transfer agreement, the Company, through its wholly owned subsidiary, Minco Mining (China) Co., Ltd. ("Minco China"), will acquire an interest in the Tianjin Saikehuan Enterprise Management Center Limited Partnership (the "Saikehuan LP") from Tianjin Huaxin Anneng Management Consulting Partnership LP ("Huaxin") for RMB 119,762,699 (CAD$23.04 million) in cash. Hexie currently has 763,360,918 outstanding shares, and an estimate total market capitalization of RMB 15.8 billion. The Saikehuan LPs primary asset is an approximately 25% stake in Hexie (a total of 190,977,024 shares). The Company's stake in the Saikehuan LP gives it an indirect interest in approximately 7,480,937 shares of Hexie (the "Hexie Shares"), or 0.98% of Hexie's total outstanding shares. The preliminary agreement was negotiated between the Company and Huaxin on an arms-length basis.

The purchase price was funded exclusively from Minco Silver's surplus working capital, and represents an opportunity to earn a greater return than through traditional banking investments. The Company did not anticipate requiring this capital for other purposes in the foreseeable future.

In conjunction with the proposed acquisition, Minco China has also entered into a restructuring and distribution agreement with Saikehuan LP and its general partner pursuant to which the parties will use their best efforts to restructure the Saikehuan LP to initiate Minco China as a direct holder of the Hexie Shares with the right to trade those shares directly on behalf of the Saikehuan LP. Under the terms of this restructuring agreement, the Company will be entitled to recoup its entire purchase price from the proceeds of any sale of Hexie shares. Once the purchase price has been recouped in full, all remaining proceeds will be divided as to 20% to the general partner, with the remaining 80% distributed to Minco China.

The above transaction has been approved by Minco Silver's board and Toronto Stock Exchange.

SOURCE Minco Silver Corp.



Contact
on Minco Silver, please visit the Company's website at www.mincosilver.ca or contact: the Company at 2060 - 1055 W. Georgia St., Vancouver, BC, Canada, V6E 3R5, Tel: (604) 688-8002, Fax: (604) 688-8030, E-mail: pr@mincomining.ca, Website: www.mincosilver.ca.
 
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