$SHIB, $DOGE favoring AMCTheatres invests in goldmine. CEOAdam PeterSchiff
The company has spread the word about purchasing a 22-percent stake in Hycroft Mining Holding . Their gold and silver mine in Nevada state AMC has also bought is places on a territory of 71,000 acres.
The amount of funds AMC plans to spend on this investment is $27.9 million in cash. This will buy them 23.4 million warrant units. Each of them will be comprised of one common HYMC share and one common share purchase warrant. Each share costs $1.193 and each purchase warrant is priced at $1.07 and they are issued for a five-year term.
Aside from getting the warrants, AMC will be entitled to add their representative on the board of Hycroft. As for the mine, it contains 15 million ounces of gold deposits and 600 million ounces of silver, according to AMC. AMC has decided to diversify its funds after the profits were hit in 2020. So now, it has found a company with liquidity issues, according to the AMC chief Adam Aron and this investment is going to help both sides, he said, commenting on the deal.
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UPDATE: AMC to acquire 22% of gold and silver miner Hycroft in surprise moveAMC Entertainment Holdings Inc. undefined said Tuesday it is buying 22% of Hycroft Mining Holding Corp. undefined and its 71,000 acre Hycroft Mine in...
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