Form 8-K - Current report
15 Agosto 2023 - 8:57PM
Edgar (US Regulatory)
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2023-08-14
2023-08-14
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM 8-K
Current Report
Pursuant to
Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 14, 2023
GOLDEN MINERALS COMPANY
(Exact name of registrant as specified in its
charter)
delaware |
1-13627 |
26-4413382 |
(State or other jurisdiction of
incorporation or
organization) |
(Commission
File Number) |
(I.R.S. Employer
Identification Number) |
350 Indiana Street, Suite 650
Golden,
Colorado 80401
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including
area code: (303) 839-5060
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to
Section 12(b) of the Act:
Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, $0.01 par value |
|
AUMN |
|
NYSE American |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
TABLE OF CONTENTS
| Item 1.01 | Entry
into a Material Definitive Agreement. |
On August 14, 2023, Golden Minerals
Company (the “Company”) entered into a binding letter of intent (the “Letter of Intent”) with Transformaciones
y Servicios Metalurgicos S.A. DE C.V. (“TSM”) for a potential transaction pursuant to which TSM would acquire the Company’s
100% interest in the Santa Maria mining claims located in Chihuahua, Mexico (the “Option”). The Letter of Intent provides
that entry into a definitive agreement regarding the Option (the “Definitive Agreement”) is subject to, among other contingencies,
a 45 calendar-day period during which TSM will conduct its due diligence.
Upon exercise of the Option and in consideration
for the Option, TSM will (i) pay to the Company $1.5 million in cash and (ii) grant the Company a 1.5% of the net smelter return
royalty on the Santa Maria concession up to a cap of $1 million (the “Royalty”). In addition, the parties have agreed that
TSM may purchase from the Company the right to receive the Royalty for $500,000 at any time prior to the commencement of commercial production
on the Santa Maria property by TSM.
The Letter of Intent contains standard
representations, warranties, covenants and other terms customary in similar transactions. The Company and TSM have agreed to use their
commercially reasonable best efforts to enter into the Definitive Agreement on or before September 25, 2023 and prepare all necessary
documentation and all other consents, orders or approvals as required or desirable to complete the potential transaction regarding the
Option. None of the consideration described above is payable until the Definitive Agreement with regard to the Option is executed.
The foregoing description of the Letter
of Intent does not purport to be complete and is qualified in its entirety by the full text of the Letter of Intent, a copy of which
will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023.
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: August 15,
2023
|
Golden Minerals Company |
|
|
|
By: |
/s/ Julie Z.
Weedman |
|
|
Name: |
Julie Z. Weedman |
|
|
Title: |
Senior Vice President and Chief Financial Officer |
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Golden Minerals (AMEX:AUMN)
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De May 2024 a Jun 2024
Golden Minerals (AMEX:AUMN)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024