Anfield Nickel and Magellan Minerals today completed the previously announced plan of arrangement under the Business Corporations Act (British Columbia) whereby Anfield acquired all of the issued and outstanding securities of Magellan. Under the terms of the Arrangement, former Magellan shareholders received 0.0863 Anfield common shares for each of [...]
Magellan Minerals is pleased to announce that shareholders, optionholders and warrantholders of Magellan have approved the previously announced business combination with Anfield Nickel, to be completed by way of a plan of arrangement, at a special meeting held on April 28, 2016. Under the terms of the Arrangement, Anfield will acquire all the [...]
Magellan Minerals is pleased to announce that it has received the regulatory approvals necessary to proceed with its previously announced debt settlement transaction involving the exchange of $500,000 of liabilities due to certain members of management for, among other things, the Company's interest in its Brazilian subsidiary, Magellan Minerais [...]
Magellan Minerals is pleased to announce that it has paid the US$855,000 to ASX listed Troy Resources relating to the purchase of Troy's gold processing plant and related assets that was due on March 15. The payment was funded by a secured convertible debenture provided by Anfield Nickel. The US$855,000 payment to Troy was made in accordance with [...]
Magellan Minerals is pleased to announce that it has arranged for an additional convertible debenture financing with Anfield Nickel pursuant to which Anfield has agreed to subscribe for a secured convertible debenture in the principal amount of C$1,675,000 from Magellan. The Debenture bears interest at the rate of 8% per annum and will mature 30 [...]
Magellan Minerals is pleased to announce that it has renegotiated its arrangement with Troy Resources to acquire the Andorinhas processing plant and mining fleet. The previously amended arrangement with Troy gave Magellan until February 29, 2016 to complete the current payments totaling US$2,850,000 for the acquisition of the 800 t/d Andorinhas [...]
Magellan Minerals is pleased to announce that the Company has closed a further $0.9M of the debt settlement agreement with its management group. The agreement relates to the issuance of units in exchange for a significant portion of the debts owed to management. It was previously announced on December 3, 2015 and a partial closing of the agreement [...]
Anfield Nickel and Magellan Minerals are pleased to announce that Anfield and Magellan have entered into a definitive arrangement agreement dated February 16, 2016 whereby Anfield will acquire Magellan. The resulting entity will be an emerging gold producer with a post-deal market capitalization of approximately $48 million (based on the closing [...]
Magellan Minerals is pleased to announce that following receipt of final approval from the TSX Venture Exchange, the Company has closed part of the debt settlement agreement with its management group which was previously announced on December 3, relating to the issuance of units in exchange for a significant portion of the debts owed to management [...]
Magellan Minerals is pleased to announce that it has paid the US$500,000 to ASX listed Troy Resources relating to the purchase of Troy's gold processing plant and related assets that was due on December 31. The payment was funded, in part, by advances and a convertible loan provided by two directors of the Company. The US$500,000 payment to Troy [...]
Magellan Minerals is pleased to announce that Troy Resources has granted Magellan an extension to the agreement announced on August 26, 2015. Separately, Mr. Ken Nilsson has agreed to join Magellan's Board of Directors. The amended deal with Troy gives Magellan until February 29, 2016 to complete the payments for the acquisition of the 800t/d [...]
Magellan Minerals is pleased to announce that it has entered into a comprehensive debt settlement agreement with its management group. Extensive funding has been provided to the company from 2013 through to the current date by management in the form of non-interest bearing and unsecured advances, unpaid remuneration and unreimbursed expenditures [...]
