Pinnacle Silver and Gold names Auramet as lead financier for El Potrero gold-sil

Pinnacle Silver & Gold Corp (TSX-V:PINN, OTCQB:PSGCF, FRA:P9J) announced that it has appointed Auramet Capital Partners as lead project financier to arrange or potentially provide up to $5 million in non-equity financing for the development of its El Potrero gold-silver project in Durango, Mexico.

The companies have entered into an agreement under which they will work toward a mutually acceptable financing package during a seven-month exclusivity period. Any financing remains subject to due diligence, operational and financial progress, and other customary conditions.

Under the agreement, Auramet has the right of last offer to provide the financing but is not obligated to do so. The deal also includes a non-solicitation provision covering competing financing proposals and a $400,000 break fee if Pinnacle accepts an alternative offer during the exclusivity period.

President and CEO Robert Archer said the company aims to secure non-dilutive financing to advance El Potrero toward production while reducing reliance on equity markets.

"Having a well-known metal trader and financier such as Auramet to partner with, not only brings a lot of credibility but will give us financial flexi

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/commodities/articles/pinnacle-silver-gold-names-auramet-133200546.html)