VANCOUVER, British Columbia, Feb. 26, 2018 (GLOBE NEWSWIRE) -- AbraPlata Resource Corp. ("AbraPlata" or the "Company") (ABRA.V) (ABBRF) (1AH.F) is pleased to announce that the Preliminary Economic Assessment (“PEA”) of the Diablillos Ag-Au project is nearing completion and the Company expects to announce the results by the end of February 2018. The Company is also pleased to report that the contractual anti-dilution right (the "Anti-Dilution Right") held by SSR Mining Inc. (formerly Silver Standard Resources Inc.) ("SSR Mining") under the second amended and restated share purchase agreement dated March 21, 2017 (the "SSR Agreement"), which entitled SSR Mining to maintain a free carried 19.9% equity interest in the Company has now expired.
If SSR Mining fails to fully exercise its equity participation right in connection with any equity financing or Non-Cash Transaction, its equity interest in the Company will be diluted. SSR's equity participation right will expire upon SSR Mining's equity interest in the Company being less than 10% for any continuous period of at least 30 days. A copy of the SSR Agreement is available from the Company's profile on SEDAR (www.sedar.com).
ON BEHALF OF THE BOARD
ABRAPLATA RESOURCE CORP.
|Willem Fuchter||Rob Bruggeman|
|President & Chief Executive Officer||Investor Relations|
|AbraPlata Resource Corp.||AbraPlata Resource Corp|
|Tel: +54.11.5258.0920||Tel: +1.416.884.3556|
|E-mail: email@example.com||Email: firstname.lastname@example.org|
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.