BUZZ-Americas Gold & Silver shares gain after announcing Galena deal

Reuters10-10

** Shares of precious metals miner Americas Gold & Silver

rise nearly 22% to 53 Canadian cents — the highest level in more than a year

** Company enters into agreement with an affiliate of Eric Sprott to acquire the remaining 40% interest in Galena Complex in Idaho, U.S. to consolidate a current joint venture

** Galena Complex is 60% owned by Americas and a joint venture with longtime precious-metals investor Sprott was announced in late 2019 for 40% interest of the property

** After the closing of the acquisition, Paul Andre Huet, who was Sprott's technical representative for the Galena JV, will be made chairman and CEO of the company

** Americas will provide owners of Sprott with monthly silver deliveries of 18,500 ounces for a period of 36 months starting in or around January 2026

** Upon closing of the deal, owners of Sprott will receive 170 million shares of Americas and $10 million in cash

** Including session gains, stock up 60.6% YTD

(Reporting by Bageshri Banerjee)

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