Capella Minerals closes sale of Minera Mariana Argentina S.A. to Cerrado Gold

On January 25, 2021, Capella Minerals Ltd. (TSXV: CMIL) (FRA: N7D2) announced that it had completed and closed the previously announced sale of its 100% interest in its Argentine subsidiary, Minera Mariana Argentina S.A. to Cerrado Gold Inc. Minera Mariana is the owner of the Las Calandrias and Los Cisnes gold-silver projects, in addition to a portfolio of exploration concessions located in the Eastern Deseado Massif, Santa Cruz Province, southern Argentina. 

Under the terms of the transaction, Capella received 1,125,000 Cerrado shares on closing. Capella transferred 562,500 of the Cerrado shares to Sandstorm Gold Limited (TSX: SSL) (NYSE: SAND) in consideration of the extinguishment of the annual maintenance payments of Capella owing to Sandstorm in respect of the Las Calandrias and Los Cisnes projects under a share purchase agreement dated February 19, 2018 as amended and assigned.

Capella is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade gold and copper deposits. 

Cyndi Laval of Gowling WLG advised Capella with respect to this transaction.