Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, FRA:ZYR1, OTC:SBWFF) has updated on its agreement to restructure the deferred consideration due for the South Crofty tin mine in Cornwall.
The company is working to provide the supporting documentation as required by the Venture Exchange in Toronto.
The company expects to issue the closing shares to the sellers once the applicable documentation has been provided to the Venture Exchange and the final Venture Exchange acceptance has been obtained.
Cornish Metals completed the acquisition of the South Crofty tin and United Downs copper-tin projects, plus additional mineral rights located in Cornwall, UK, in July 2016.
The additional mineral rights cover an area of approximately 15,000 hectares and are distributed throughout Cornwall. Some of these mineral rights cover old mines that were historically worked for copper, tin, zinc, and tungsten.