On 24 October 2017, the company announced the closing of the option agreement, wherein Vista granted Minera Alamos an exclusive option to earn a 100% interest in the GdlR project by, among other things, making payments totaling US$6.0 million comprised of a payment of US$1.5 million made at the execution of the option agreement, two successive payments of US$1.5 million each to be made at the one year and two year anniversaries of the option agreement, and a final US$1.5 million payment to be made before the four year anniversary of the option agreement. To date, the company has received the initial US$1.5 million payment as partial consideration for the GdlR project and US$50 000 as partial consideration for the six month deferral of the second payment.
Frederick H. Earnest, President and CEO, commented: "Minera Alamos has made good progress in advancing the GdlR project. We believe the additional consideration they have offered demonstrates their commitment to the planned development of the project."
