A group of investment dealers led by Midland Walwyn Capital will acquire 1.5 million common shares of Triton Mining (TSE) from Repadre Capital (TSE).
The acquisition price is $6.5 million, pursuant to special warrants. Repadre will continue to own a 5% net smelter return royalty, a 6% net profit interest royalty and 1.6 million common shares of Triton.
Triton operates the Limon gold mine in Nicaragua, where minable reserves are estimated to total 330,000 oz. Startup of a new mill in late 1995 is expected to increase annual production to 50,000 oz. gold.
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