Sierra Metals Inc. is pleased to announce that the Company has entered into a binding agreement with Silverco Mining Corp. in respect of the proposed purchase by SMC of the mining concessions comprising the Cusi Mine located in Chihuahua State, Mexico , and related assets including, among other things, land and land agreements, equipment and environmental permits . In accordance with the terms of the Agreement, the Company will sell the Property to SMC in exchange for: US$2,500,000 in cash consideration at closing; and A 2.0% net smelter royalty in respect of the Cusi Mine granted in favour of
Sierra Metals . SMC will have the right to purchase half of the Royalty at any time in exchange for a cash payment to
Sierra Metals of US$5,000,000. As previ...