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FINWIRES

Americas Gold and Silver Reaches Deal with Sprott Mining to Terminate Silver Delivery Obligation

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Americas Gold and Silver (USA.TO) has reached an agreement with Sprott Mining (SII.TO) to terminate the remaining obligation under a silver delivery agreement in exchange for Americas shares, the company said on Friday.

Under the agreement, the remaining 592,000 ounces of silver under the silver delivery agreement will be terminated in exchange for 8.0 million Americas common shares issued at a deemed price of US$5.57 per share.

The elimination of the silver stream agreement removes over $45 million in variable future debt obligations.

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