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Telson pays US$8M, converts remaining US$8.5M to loan in Campo Morado mine deal

Telson Mining Corp. made a partial payment of US$8 million to Nyrstar Mining Ltd. under an April 2017 share purchase agreement to acquire the Campo Morado zinc mine in Mexico for US$20 million.

The company also entered into a loan agreement with Nyrstar Canada (Holdings) Ltd. that effectively converts the final US$8.5 million due under the acquisition agreement into a loan and extends the payment terms over the next eight months.

The loan will bear interest at 10% per annum and needs to be paid off by Feb. 28, 2019, Telson said June 13.