Latitude Silver et Silver X Mining réalisent le regroupement de leurs activités (en anglais)

On June 23, 2021, Peruvian mining company Mines and Metals Trading (Peru) PLC ("MMTP", also commercially known as "Latitude Silver") and Silver X Mining Corp. (TSXV: AGX) (OTC PINK: WRPSF) ("Silver X" or the "Company", formerly "Oro X Mining") announced that they had closed their previously announced business combination (the "Transaction"), pursuant to which Silver X acquired all of MMTP's issued ordinary shares in exchange for common shares of Silver X at an exchange ratio of 28.828 Silver X shares for each MMTP share. 

As part of the closing of the Transaction, subscription receipts of MMTP Finco Inc., a wholly-owned subsidiary of Latitude Silver, which were issued pursuant to a private placement financing completed on April 16, 2021, each converted into one common share of Finco. In connection with the Transaction, the Company issued 23,649,286 Silver X shares in exchange for the Finco shares and the net proceeds of the financing of $13,209,890 were released to Silver X.

Gowling WLG advised MMTP with respect to the business combination and associated financing with a team that included Ian Mitchell, France Tenaille, Tara Amiri, Raymond Ong and Ethan Chang.