Austral Gold completes sale of shares to related parties

Austral Gold Limited (ASX: $AGD) has announced the completion of the sale of shares of Unico Silver Limited by its subsidiary, Austral Gold Canada Limited, to two of the Company's directors, Eduardo Elsztain and Saul Zang. The sale was executed pursuant to a share purchase agreement dated June 18, 2024, as previously disclosed on June 20, 2024.

Executive Commentary

The completion of the sale of shares of Unico Silver Limited to our directors, Eduardo Elsztain and Saul Zang, marks a strategic move for Austral Gold. This transaction aligns with our focus on building a portfolio of quality assets in the Americas based on production, exploration, and equity investments. We are committed to advancing our attractive portfolio of producing and exploration assets to lay the foundation for our growth strategy.

Summary

Austral Gold Limited has successfully concluded the sale of shares of Unico Silver Limited to its directors, Eduardo Elsztain and Saul Zang, in line with the share purchase agreement dated June 18, 2024. The total proceeds from the transaction amounted to A$1,027,545 (US$682,393/CDN$935,014), with no finder's fees paid. The Company clarified a clerical error regarding the number of Unico Shares purchased by Mr. Zang in a previous press release. Austral Gold continues to focus on its growth strategy by advancing its portfolio of producing and exploration assets, emphasizing its commitment to strategic pillars of production, exploration, and equity investments. The completion of this transaction reflects the Company's ongoing efforts to strengthen its position in the gold and silver mining sector.