("GCG Titiribi"), whereby the Company purchased from GCG Panama, a wholly-owned subsidiary of Gran Colombia, all of the issued and outstanding shares of GCG Titiribi, which holds title to all of the Zancudo Mining Assets through its Colombian branch, Gran Colombia Titiribi Sucursal Colombia. ("GCG Panama") and Gran Colombia Gold Titiribi Corp.
The Company acquired the Zancudo Mining Assets pursuant to a share purchase agreement dated Novemamong the Company, Gran Colombia, Gran Colombia Gold, S.A. ("Gran Colombia") pursuant to which the Company acquired certain mining assets (the "Zancudo Mining Assets") located in the Municipalities of Titiribi, Angelopolis and Armenia, Department of Antioquia, Colombia. shareholders (the "Pooling Agreement")) commencing on March 27, 2021, and the remaining Shares are subject to seed share resale restrictions, whereby 20% of the Shares will be released every three months, with the first release (pursuant to the Pooling Agreement) commencing on March 27, 2021.Ĭoncurrently with the completion of the Amalgamation Transaction, on February 19, 2021, the Company completed a share purchase transaction (the "Zancudo Transaction") with Gran Colombia Gold Corp. 5,100,000 of the Shares are subject to escrow requirements under an Escrow Agreement (the "Escrow") with Computershare Trust Company of Canada, whereby the Shares will be released over a period of 36 months, with the first release (pursuant to a voluntary pooling agreement between the Company and the Guia Antigua Co. in exchange for the issuance of an aggregate of 15,000,000 common shares (the "Shares") of the Company to the shareholders of Guia Antigua Co. The Amalgamation Transaction was completed pursuant to an amalgamation agreement dated Novem(the "Amalgamation Agreement"), whereby the Company acquired Guia Antigua Co. and located 130 kilometers northeast of Medellin in the Segovia-Remedios mining district, Department of Antioquia, Colombia. Ltd., pursuant to which the Company acquired certain mining assets (the "Guia Antigua Mining Assets") indirectly owned by Guia Antigua Co. On Februthe Company completed a three-cornered amalgamation (the "Amalgamation Transaction") with 1255269 B.C. Shares of the Company are expected to resume trading on TSX Venture Exchange under the symbol 'DSLV' on March 1, 2021. (the "Company") (TSXV: DSLV.H), formerly ESV Resources Ltd., is pleased to announce that it has closed its acquisition of the Guia Antigua and Zancudo Projects, located in historic mining districts in Colombia, as previously announced on November 20, 2020, net proceeds funds from escrow from the previously announced Private Placement (as described below) have been released from escrow. holds 36% interest in the Company and will provide in-country operational expertise to advance projects forward New additions to the Board of Directors and Management.Trading expected to resume on Maunder the symbol "DSLV".
Net proceeds of CA$8,206,013 from private placement of subscription receipts have been released from escrow.The acquisition of the Guia Antigua and Zancudo Projects has closed.
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