Izurium Capital splits its holding of South American Silver (SAC) with Zamin Group
Zamin Precious Minerals Ltd. (Zamin) has disposed of 9.45 million common shares in the capital of South American Silver Corp., representing approximately 9.4 per cent of the issued and outstanding common shares of SAC. Zamin redeemed the outstanding shareholding of Izurium Capital Management Ltd in Zamin. As consideration for the redemption of its common shares, Zamin transferred 50 per cent of the common shares over which it had legal and beneficial ownership of, and control and direction, to Izurium, which, as a result of such transfer, owns 9.45 million common shares (representing approximately 9.4 per cent of the issued and outstanding common shares of SAC). As a result of the redemption, Zamin is a wholly owned subsidiary of Zamin Precious Ltd. (formerly Zamin Gold Ltd.). As a result of the transfer, Zamin now legally and beneficially owns and controls 9.45 million common shares, or approximately 9.4 per cent of the issued and outstanding common shares of SAC. Zamin disposed of the common shares to meet its redemption obligations and not with the purpose of influencing the control or direction of the SAC. Zamin and its joint actors may, subject to market conditions, make additional investments in or dispositions of securities of SAC in the future.
Izurium Capital executed the investment in SAC as part of its Special Situation strategy
About South American Silver: South American Silver is an exploration-stage company engaged in the acquisition, exploration and development of mineral properties. The principal countries where the SAS is undertaking exploration activities are Bolivia and Chile. It explores and develops its 100%-owned Malku Khota Silver-Indium project in Bolivia and the 100%-controlled Escalones Copper-Gold project in Chile.