The sale of Great Panther Mining’s Peruvian subsidiaries to Newrange Gold – announced in September – has fallen through, the embattled company reported on Friday.
Great Panther, which has entered bankruptcy protection, stated that the share purchase agreement to sell the subsidiaries that indirectly owned the Coricancha mine to Newrange had been terminated.
The company explained that the agreement was subject to certain closing conditions, including approval of the TSX-V, as well as evidence of sufficient financing to support the transaction.
The Coricancha mine remains on care and maintenance.