Andean Precious Metals Corp. (TSXV:APM) acquired Golden Queen Mining Company, LLC from Auvergne Umbrella LLC for $66.6 million on November 24, 2023. The acquisition price included $5 million in upfront cash consideration paid out of Andean?s cash on hand plus net working capital adjustments. Additionally, there are two deferred payments of $5 million each. As part of the acquisition agreement, Golden Queen will retain a Main Street Priority Loan (?MSPL?) with Commerce West Bank of California. A first principal payment of $7.5million and $0.2 million of accrued interest was paid through Golden Queen concurrent with the closing of this acquisition, reducing the total amount owing on the MSPL from $51.6million to $43.9million. A second principal payment of $7.5million is due on November 24, 2024,with the remaining principal balance due upon maturity on November 24, 2025. MPA Morrison Park Advisors Inc. acted as financial advisor, Fogler, Rubinoff LLP and Musick Peeler & Garrett LLP acted as legal advisor and Ernst & Young LLP (Canada) acted as accountant to Andean Precious Metals Corp. Canaccord Genuity Corp. acted as financial advisor and Morgan, Lewis & Bockius LLP acted as legal advisor to Auvergne Umbrella LLC.


Andean Precious Metals Corp. (TSXV:APM) completed the acquisition of Golden Queen Mining Company, LLC from Auvergne Umbrella LLC on November 24, 2023.