DynaResource, Inc. and DynaResource De México SA De CV. Announce Extension of Offtake Agreement With Ocean Partners Holdings Ltd.

Extension of Commercial Offtake Agreement through December, 2026; Ocean Partners to Purchase 1M Shares of Common Stock of DynaResource, Inc. at $5 / Share

 

IRVING, TX / ACCESSWIRE / July 6, 2023 / DynaResource, Inc. (OTCQB:DYNR) ("DynaUSA", and "the Company") is pleased to report 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 San Jose de Gracía high grade gold project in Sinaloa, México ("SJG").

 

 

Ocean Partners Holdings Ltd. ("Ocean Partners", "OP") and DynaMéxico have agreed:

 

-          To extend the current commercial Offtake Agreement through December 2026;

-          OP to Increase the Advance Credit Line available to DynaMéxico to $17.5M USD;

-          OP 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;

 

Ocean Partners and DynaUSA have agreed:

 

-          Ocean Partners will purchase 1M Shares of DynaUSA at $5 / Share;

-          1 Designee of Ocean Partners will be named to the Board of Directors of DynaUSA

 

In commenting on the transactions with Ocean Partners; DynaUSA Chairman-CEO, and DynaMéxico President Mr. K.D. Diepholz noted: "We greatly appreciate the attention and support we have received from Ocean Partners since February 2021, and in particular; Brent Omland, Al Paterson, and Roberto Guerra. Now, with this extension of commercial offtake agreement formalized, DynaUSA and DynaMexico will continue our excellent partnership with Ocean Partners for many years."

 

On behalf of the Board of Directors of DynaResource, Inc.;

On behalf of the Board of Directors of DynaResource de México S.A. de C.V.;

 

K.D. DIEPHOLZ

DynaResource, Inc.; Chairman and CEO

DynaResource de México, S.A. de C.V.; Presidente

 

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS