Vizsla Silver (VZLA) said Thursday it completed the acquisition of the past-producing La Garra-Metates district in the Panuco-San Dimas corridor, known for rich deposits of minerals, particularly silver and gold.
The company said it will pay $3.075 million in cash and issue an aggregate of 5.56 million shares with a deemed price of $1.26 a share over 24 months after closing.
Vizsla paid $1.61 million in back taxes owing on the concessions comprising the La Garra-Metates district.
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