Vizsla Silver (VZLA) said Thursday that it has agreed to acquire the Santa Fe project in western Mexico in a cash-and-stock deal.
The acquisition includes production and exploration concessions totaling 12,229 hectares south of Vizsla's flagship Panuco project, the company said.
Viszla said it has entered into an option agreement with Eduardo de la Pena Gaitan and certain optionors to acquire the project's production concessions for $5.5 million and 1.4 million of the company's shares, which will be paid out over five years.
Under a purchase agreement for the exploration concessions, the company said it will pay $1.4 million and 2.7 million shares.
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