Defiance completes acquisition of GEMS
Through the signing of a definitive agreement with Green Earth Metals (GEMS) and its shareholders, TSX-listed Defiance Silver Corp has acquired 100% of GEMS, thereby completing the previously announced acquisition.
GEMS is a privately held company in British Columbia, Canada, with a portfolio of three copper/gold/silver projects in Sonora, Mexico, and is now a wholly owned subsidiary of Defiance.
Defiance says the acquisition solidifies its position as a “leading exploration company” with projects across Mexico’s mineral belts.
The company adds that it is committed to advancing exploration efforts on the Victoria, Espiritu and Los Ocotes projects. With a drill permit already in place, Defiance plans to launch a comprehensive exploration campaign, including a diamond drill programme at the Victoria project.
“The GEMS team consists of seasoned mine financiers and global mineral explorers and we are pleased to welcome them as shareholders.
“This transaction strengthens Defiance’s strategy to build a diversified portfolio across silver, gold and copper systems, enhances our exploration potential, and reinforces our commitment to creating value for shareholders,” Defiance CEO Chris Wright comments.
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