Golden Minerals buys Hochschilds stake in joint venture in return for stock

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GOLDEN, Colo. - Golden Minerals Co. (TSX:AUM) will acquire Hochschild's 35 per cent interest in their Minera El Quevar S.A. joint venture in Argentina in exchange for stock and warrants currently worth nearly $4.1 million.
Hochschild Mining PLC will receive 400,000 shares of Golden Minerals common stock, and warrants to acquire 300,000 shares of common stock exercisable for three years at an exercise price of $15 per share.
The warrants will only have value if Golden's public share price rises above $15.
Golden's shares closed Thursday, ahead of the New Year's holiday weekend, at $10.24.
Hochschild will also have the right for two years to participate in future equity offerings by Golden Minerals, in order to maintain up to an 11 per cent equity interest in Golden Minerals.
Golden has a portfolio of 35 exploration projects, primarily located in Argentina, Peru and Mexico, including the advanced stage El Quevar project in the Salta province of northwestern Argentina and the Zacatecas project in Mexico.

Organizations: Golden Minerals Co., Hochschild, TSX

Geographic location: Argentina, GOLDEN, Colo., Mexico Peru Salta Zacatecas

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