Americas Gold and Silver Announces Agreement with Affiliate of Royal Gold to Settle Fixed Gold Delivery Obligation
Americas Gold and Silver settled its remaining fixed gold delivery obligation to International Royalty Corporation (IRC) by delivering 5,000 ounces of gold and issuing 2,652,532 common shares at a deemed price of $5.86. The transaction eliminates over $40 million in variable future debt obligations that fluctuated with gold prices. Combined with a previously announced silver settlement, the company has now removed over $85 million in variable future debt. Management states this simplifies the balance sheet, reduces future cash debt service costs, and increases silver price leverage for shareholders.
Key figures
- Shares issued
- 2652532
- Hedge proceeds
- 7000000
- Gold oz delivered
- 5000
- Deemed share price
- 5.86
- Variable debt removed
- 40000000
- Gold oz obligation settled
- 8861
- Total variable debt eliminated
- 85000000
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