11:53 AM EST - Paramount Gold and Silver Corp. : said it signed agreements to acquire additional 54 thousand hectares of mining concessions adjacent to its San Miguel project in Chihuahua, Mexico. In addition, the company entered into two concurrent transactions including the acquisition of all of the shares of Magnetic Resources Inc. and the purchase of the Temoris options owned by Garibaldi Resources Corp. for cash and share consideration.Paramount noted that it made an initial cash payment of $400,000 to Garibaldi, and would issue six million common shares on closing with fixed release dates to acquire all of its interest in the option agreements. As per the terms of the agreement, Paramount would acquire all shares of Magnetic Resources Inc. and its Mexican subsidiary by way of stock consideration of 1.35 million of its common shares thereby extinguishing all future option and royalty payments. Paramount Gold and Silver Corp.
shares T.PZG are trading up $0.01 at $0.74.
