DynaResource, Inc. and DynaResource De México SA De CV Are Pleased to Announce the Following
On August 3, 2023, Ocean Partners UK Limited purchased 1M Shares of DynaResource, Inc. at $5 / Share; Total Price Paid by Ocean Partners UK Limited of $5M USD.Ocean Partners UK Limited, through its 100% owned subsidiary in Mexico, MK Metal Trading …
- On August 3, 2023, Ocean Partners UK Limited purchased 1M Shares of DynaResource, Inc. at $5 / Share; Total Price Paid by Ocean Partners UK Limited of $5M USD.
- Ocean Partners UK Limited, through its 100% owned subsidiary in Mexico, MK Metal Trading SA de CV and DynaResource de Mexico SA de CV, the 100% owned subsidiary of DynaResource, Inc. in Mexico, formalized a + 3 Year Extension of Commercial Offtake Agreement through December 2026; with possible annual continuations thereafter.
IRVING, TX / ACCESSWIRE / August 10, 2023 / DYNR-DynaResource, Inc. (OTCQB:DYNR) ("DynaUSA", and "the Company") is pleased to announce the following update regarding the Company and DynaResource de México SA de CV ("DynaMéxico"), the wholly owned subsidiary of DynaUSA and the 100% Owner of Concessions comprising the prolific San Jose de Gracía high-grade gold project in Sinaloa, México ("SJG"). All of these developments are in fulfillment of the MOU between the Company and Ocean Partners UK Limited ("Ocean Partners"), which was previously disclosed to the Company's shareholders.
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- The Company has entered into a Stock Purchase Agreement with Ocean Partners (the "SPA"), under which the Company issued 1M shares of Common Stock to Ocean Partners in exchange for $5M USD.
- Under the SPA, Ocean Partners will name one director to serve on the Board of Directors of DynaUSA.
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Ocean Partners, through its 100% owned subsidiary in Mexico - MK Metals Trading ("MK"), and DynaMéxico have formalized the extension of their commercial offtake agreement through December
31, 2026, and with revision of terms as per below:
- OP / MK agreed to Increase the Advance Credit Line available to DynaMéxico to $17.5M USD.
- OP / MK agreed to provide an Option to convert the Advance Credit Line into a Revolving Credit Line, repayable in 12 months, in maximum amount of $10M USD.
The Company and DynaMéxico plan to utilize the funds received from Ocean Partners to further expand and increase test mining and milling activities at SJG, to continue exploration drilling and related exploration activities at SJG, and for general corporate purposes.