Cerro grande mining corporation announces termination of apa and return of assets to tamidak

Toronto, jan. 28, 2025 (globe newswire) -- cerro grande mining corporation (the “company” or “ceg”) (cse:ceg) announces that the asset purchase and contracts assignment agreement (the “apa”) dated december 1, 2020 entered into between minera tamidak limitada (“tamidak”) and the company's wholly-owned subsidiary minera til til spa (“til til”) pursuant to which til til acquired from tamidak the mining concessions and other assets covering the pimentÓn copper gold mining project as originally reported in the company's news release dated december 1, 2020 has been formally terminated as the company was not able to make the third and final installment payment of the purchase price (as defined below) under the apa which payment tamidak required to be made in cash and not in shares of the company.
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