Kuya Silver Closes Acquisition of 100% Interest in Bethania Mine
Kuya Silver Closes Acquisition of 100% Interest in Bethania Mine
Vancouver, BC, December 16, 2020 ‐ Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (Frankfurt:
6MR1) (the “Company” or “Kuya”) is pleased to announce that through its indirect wholly owned Peruvian
subsidiary (Kuya Peru S.A.C., formerly, Aerecura Materiales S.A.C.), it has acquired 100% of the issued and
outstanding shares in the capital of S&L Andes Export S.A.C. (“S&L”), the Peruvian company which owns
the Bethania mine, and holds the mining concession, permits and other rights (collectively, the “Bethania
Project”).
Kuya intends to rename S&L to Minera Toro del Plata S.A.C. imminently.
The share purchase agreement disclosed in the Company’s listing statement dated October 1, 2020, to
acquire an 80% interest in S&L was amended to include the purchase of the remaining 20% interest of
S&L as described in the Company’s press release dated October 26, 2020 (the “Transaction”).
The terms for the purchase of the original 80% interest, included cash payments totaling USD$3,500,000
and the issuance of 3,670,000 common shares in the capital of Kuya (each a “Common Share”) to the
owners of S&L. Prior to closing, Kuya paid an aggregate of USD$715,000 towards the purchase price.
The terms for the purchase of the remaining 20% interest, included a cash payment of USD$1,325,000
and USD$425,000 in Common Shares, the number of Common Shares issued was calculated on closing,
using the 5‐day average closing price of the Common Shares on the Canadian Securities Exchange, being
CAD$2.09 and resulted in the issuance of 259,288 Common Shares.
In total on closing to acquire 100% of S&L, Kuya paid an additional USD$4,110,000 and issued 3,929,288
Common Shares.
The 3,929,288 Common Shares were issued to Erika Soria López, one of two of the previous owners of
S&L, Kuya now has 36,270,020 Common Shares issued and outstanding. In accordance with applicable
securities laws and instruments, and as a result of the Transaction, Erika Soria López has become an insider
of Kuya, holding a 10.83% interest on a non‐diluted basis. In addition, as part of the Transaction, Kuya
agreed to appoint Erika Soria López as an advisor to the Company and will pay her USD$5,000 per month
through her consulting company, Cima Nevada S.A.C. The advisory appointment will be in effect as long
as she maintains a greater than 5% equity position in Kuya.
All Common Shares issued in connection with the Transaction are subject to a four‐month resale
restriction expiring April 16, 2021, with 1,835,000 of the Common shares subject to an additional lockup
period expiring December 15, 2021.
Kuya’s President and CEO, David Stein stated, “We are very excited to close the acquisition of our flagship
asset, and to move forward with the exploration and development of the Bethania Project expansion.
Now that we have legal and operational control over S&L, we intend to implement first class
administrative, health and safety procedures, integral to the Bethania Project as we ramp up activities,
especially in the era of COVID‐19. We expect to accelerate Kuya’s activities in early 2021 and we look
forward to unlocking value for all stakeholders as we make progress on the Bethania Project.”
About Kuya Silver Corporation
Kuya is a Canadian‐based silver‐focused mining company that owns the Bethania Project, which includes
the Bethania mine, located in Central Peru. The Bethania mine was in production until 2016, toll‐milling
its ore at various other concentrate plants in the region, the Company’s plan is to implement an expansion
and construct a concentrate plant at site before restarting operations. The Bethania mine produced silver‐
lead and zinc concentrates from the run of mine material, until being placed on care and maintenance
due to market conditions and lack of working capital.
For more information, please contact the Company at:
Kuya Silver Corporation
Telephone: (604) 398‐4493
www.kuyasilver.com
Reader Advisory
This news release may contain statements which constitute “forward‐looking information”, including
statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors,
or its officers with respect to the future business activities of the Company. The words “may”, “would”,
“could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as
they relate to the Company, or its management, are intended to identify such forward‐looking statements.
Investors are cautioned that any such forward‐looking statements are not guarantees of future business
activities and involve risks and uncertainties, and that the Company’s future business activities may differ
materially from those in the forward‐looking statements as a result of various factors, including, but not
limited to, fluctuations in market prices, successes of the operations of the Company, continued availability
of capital and financing and general economic, market or business conditions. There can be no assurances
that such information will prove accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. The Company does not assume any obligation to update any forward‐
looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this release.