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     129  0 Kommentare DynaResource Announces Offtake Extension, Credit Line Expansion and Private Placement

    Extension of Commercial Offtake Agreement through December 2028; Ocean Partners to extend a $4M Temporary Additional Credit Line and to increase Revolving Credit Line to $12.5M, following certain conditions; Major Shareholder Golden Post LLC to …

    Extension of Commercial Offtake Agreement through December 2028; Ocean Partners to extend a $4M Temporary Additional Credit Line and to increase Revolving Credit Line to $12.5M, following certain conditions; Major Shareholder Golden Post LLC to purchase $2.5M Shares of Common Stock of DynaResource Inc at $1.61 per share.

    IRVING, TX / ACCESSWIRE / June 7, 2024 / DYNR-DynaResource, Inc. (OTCQX:DYNR) ("DynaResource", or "the Company") is pleased to report the following update regarding the Company and its 100%-owned San Jose de Gracia high grade gold project in Sinaloa, México ("SJG"). All figures in United States Dollars ("USD").

    • Ocean Partners UK Limited ("Ocean Partners"), through its 100% owned subsidiary in Mexico - MK Metals Trading Mexico S.A. de CV ("MK"), and the Company have formalized the extension of their commercial offtake agreement through December 31, 2028, and with revision of terms as per below:
      • Ocean Partners agreed to provide a Temporary Additional Credit Line ("TACL") of $4M, payable November 30, 2024;
      • Ocean Partners agreed to increase the Revolving Credit Line ("RCL) from $10M to $12.5M after November 30, 2024 and following the repayment of the TACL and RCL;
      • Ocean Partners to provide the Company a Put Option to convert up to $9M of the Revolving Credit Line into Common Stock at a price expected to be approximately $1.61 per share, exercisable between November 1 and 30, 2024.
    • The Company has agreed to issue 1,552,795 shares of Common Stock to Golden Post Rail LLC ("Golden Post") in exchange for $2.5M USD. The Company plans to utilize the funds received from Ocean Partners and Golden Post to further expand and increase mining and milling activities at SJG, to expand the tailings storage facility, to continue exploration drilling and related exploration activities, and for general corporate purposes.

    "We are pleased to receive this strong level of support from key stakeholders being Ocean Partners, our offtake partner, and Golden Post, our largest shareholder," stated Rohan Hazelton, President & CEO DynaResource. "These funds are an endorsement of our business plans to optimize operations and increase shareholder value."

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    DynaResource Announces Offtake Extension, Credit Line Expansion and Private Placement Extension of Commercial Offtake Agreement through December 2028; Ocean Partners to extend a $4M Temporary Additional Credit Line and to increase Revolving Credit Line to $12.5M, following certain conditions; Major Shareholder Golden Post LLC to …