Amarillo Gold CEO Mike Mutchler joined Steve Darling from Proactive to share news Amarillo Gold Corporation (TSX-V:AGC, OTCQB:AGCBF) has entered into an agreement with Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) to acquire all of the outstanding shares of Amarillo in exchange for cash consideration of C$0.40 and one share of a new Brazil-focused exploration company, Lavras Gold Corp.
Mutchler telling Proactive this acquisition is the culmination of Amarillo’s exploration and development successes in Brazil. Mutchler says the Lavras SpinCo will be capitalized with C$10 million in cash and Amarillo’s current interests in the Lavras Project.