Magna Gold (MGR.V): “Explorer Finalizes Purchase of Mexico Gold Property”

Magna Gold Corp. (MGR:TSX.V; MGLQF:OTCQB) announced in a news release “the payment of US$5,000,000 to Argonaut Gold Inc. (Argonaut) in relation to the acquisition of the San Francisco Mine.”

The company stated that according to the final terms outlined in the amended San Francisco Mine buyout agreement dated April 24, 2020, and executed by the Mexican subsidiaries of Argonaut Gold and Magna Gold, it was required to pay US$5 million plus a working capital adjustment by May 6, 2021…

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