Silver X Mining Corp (OTCMKTS:AGXPF) Stock On Watchlist After Termination of Asset Purchase Agreement

Last Friday Silver X Mining Corp (OTCMKTS:AGXPF) was in the news cycle after it came up with a major new update. The company announced that the agreement to acquire the Revenue Virginia Mine and related assets from Alliance Management LLC which it had announced back on April 17, 2023, had been terminated.

Silver X Mining Announces Termination of Asset Purchase Agreement for the Revenue-Virginius Mine Assets

Jose M Garcia, who is the Chief Executive Officer and President of the company, spoke about the entire issue as well. He noted that Silver X Mining Corp had worked sincerely on the creation of a plan so that the acquisition could be completed. He also noted that the acquisition would have generated value for the company’s shareholders.

He went on to note that despite that there were circumstances beyond the company’s control that had made it tough to move forward with the transaction. Garcia added that the company was not going to devote further funds to the receivership process since it was not confident about the process. Instead, Silver X Mining Corp was going to work on the continuous development and success of its core asset in Peru. However, he added that the company still believed in the Revenue Mine and was open to the possibility of further talks.