Hochschild increases interest in EXMIN to 19.9%

Peru's Hochschild Mining has agreed to purchase via private placement an additional 2.74mn common shares of Vancouver-based EXMIN Resources, the companies said in separate statements.
After completing the transaction Hochschild (LSE: HOC) will have increased its stake in the Canadian miner by some 3.05% to 19.9%.

Each EXMIN (TSX-V: EXM) share will be sold at Cdn$0.40.

The transaction is expected to close on or around December 14.

Proceeds of the placement will be used at the Moris Mine in Mexico, which poured its first gold-silver dore in October and is jointly owned by Hochschild with 70%, with EXMIN holding the remaining 30%.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: December 10, 2007

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