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Vancouver, British Columbia – (Newsfile Corp. – July 22, 2022) – Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (“”Company“) Is term debt finance (“)Preparation“) Two related parties of the company that are not arm-length (“)Lender“) A total revenue of $ 300,000 used for general working capital purposes in Peru and Canada.
The loan term is 12 months, the interest rate is 4% and it occurs monthly. Interest will be paid when the principal is amortized or at the end of the period. In addition, we have agreed to issue a certificate of purchase of 450,000 shares of common stock to the lender (each “”order“), The number of warrants granted to each lender is proportional to the amount provided by that lender. Each warrant will account for one share of the Company’s common stock of $ 0.47 Canada as of 12 months from the date of issue. Gives the holder the right to purchase at the price of. Warrants are subject to a retention period of 4 months and 1 day from the date of issue.
The latest information on the company
Kuya’s Goal for the Betania Silver Project (“plan“) Remains to build a 350 tpd processing plant (“)plant“) As reviewed in a technical report summarizing the results of recent preliminary economic assessments related to the project (“)AEP report“). However, for the time being, our management will focus on considering options that will add more value to the project until the conditions for raising the necessary funds and making construction decisions are in place. We have decided to hit. We are assessing whether to mill in Betania before construction (that is, to process the project ore into a sellable concentrate at a third party mill), which is valuable. Providing a solid production experience and moving forward can generate short-term cash flow and reduce the risk of mining. Underground development required for final large-scale production.
In addition to contract milling, the company’s management sees the opportunity to expand the company’s exploration strategy throughout the Bethany region. In the Betania area, some high-priority goals need to be pursued in programming, mapping and sampling to advance these goals towards drilling. – The stage is ready.
See the PEA report for more information on the project. Its full title is “Bethanania Silver Project – NI 43-101 Technical Report (Preliminary Economic Assessment Prepared for Kuya Silver Corporation), Huancavelica, Peru”. The PEA report was produced by Mining Plus with the views of other consultants and is effective April 6, 2022. PEA reports are available on our SEDAR profile (www.sedar.com).
David Stein, president and chief executive officer of the company, said: The value of this exciting silver asset should be unleashed and we believe it is in a good position for rapid growth, production and cash flow, and exploration to improve the market. “
Disclosure of related party transactions
Lender participation in a loan constitutes a “related party transaction” in the sense of Multilateral Instrument 61-101 –. Protection of minority securities holders in special transactions (“”MI 61-101We rely on NI 61-101 formal evaluation and exemption from minority shareholder approval requirements contained in Sections 5.5 (a) and 5.7 (1) (a) of NI 61-101 with respect to the parties involved in the loan transaction. I am. 25% of our market capital, as neither the fair market value of the subject of the loan transaction (determined under NI 61-101) nor the fair market value of the counterparties to the extent that the relevant parties (ie lenders) are involved. Details (determined by NI 61-101) are included in the material change report, and material changes will be submitted 21 days prior to the end of the loan transaction, depending on the timing.Announcement of loan transactions and expected termination of loan transactions occurring within 21 days
Qualified person
The technical content of this press release is David Lewis, P. Geo, an exploration manager at Kuya Silver and a “qualified person” as defined by. Reviewed and approved by. Canadian Standard 43101 – Disclosure Standards for Mining Projects..
About Kuya Silver Co., Ltd.
Kuya Silver is a Canadian mining exploration and development company focused on the acquisition, exploration and development of precious metal assets in Peru and Canada.
For more information, please contact the following companies:
Kuya Silver Society
Phone number: (604) 3984493
[email protected]
www.kuyasilver.com
Advice for readers
This release contains “forward-looking information” or “forward-looking information” within the meaning of applicable securities law, including statements regarding the current plans, intentions, beliefs and expectations of the Company, its directors or their leaders. Contains the descriptions that make up the “description about”. About our future business activities. “May”, “Would”, “Done”, “Should”, “Do”, “Intention”, “Plan”, “Goal”, “Expect”, “Believe”, “Estimate”, “Expect”, “Achieve”, “Must”, “Next”, “Approach”, “Potential”, “Progress”, “Development”, “Continue”, “Advance” , “Survey”, “Optimization”, “Improvement”, “Opportunity”, “Future”, “Forecast”, “Vision”, “Goal”, “Growth”, “Plan”, “Option”, “Road” “Map,” “Pursuit,” “Short-term,” “Risk Elimination,” “Late,” “to,” and similar expressions identify information about such future prospects in connection with us or our management. The purpose is to do. The forward-looking information contained in this release includes, but is not limited to, information about the use of revenue from loan transactions. Investors, the statement regarding the future outlook does not guarantee future business activities, but involves risks and uncertainties, and our future business activities are due to various factors in the future. Please note that it may differ significantly from what is stated in the outlook information. These include fluctuations in market prices of silver and other commodities, the success of our business, the continued availability of capital and funds, and our ability to obtain and renew the required permits, licenses, consents and permits. Approval, economic, market and business conditions identified under the heading “Risk Factors” in our annual information form and other disclosure documents available in our profile as of April 20, 2022, without limitation. , And other risks at SEDAR at www.sedar.com. There is no guarantee that such forward-looking information will be proven to be accurate. Therefore, readers are encouraged to rely on their own assessment of risk and uncertainty. We undertake no obligation to update any forward-looking information unless required by applicable securities law.
Neither the Canadian Stock Exchange nor the Canadian Investment Industry Regulatory Authority is responsible for the validity or accuracy of this release.
To view the original version of this press release, please visit https://www.newsfilecorp.com/release/131613.