DealsSep 11, 2026, 04:38 PM
Silver Bow Mining Acquires MTMI Assets for $28.58M; Receives Note
AI Summary
Silver Bow Mining Corp. has completed the initial closing of an asset purchase agreement with Montana Tunnels Mining, Inc. (MTMI) and Montana Goldfields, Inc. (MTGF), following court approval. The company released approximately $28.58 million from escrow to cover creditor obligations related to the acquired assets. In exchange, MTGF issued a $28.58 million senior secured promissory note to Silver Bow Mining. Additionally, Silver Bow Mining purchased $5 million in senior secured notes from MTGF.
Key Highlights
- Silver Bow Mining acquired specified assets of Montana Tunnels Mining for approximately $28.58 million.
- The acquisition was approved by the U.S. Bankruptcy Court for the District of Montana.
- Silver Bow Mining released $28.58 million from escrow to satisfy creditor obligations, including $4.27M to Jefferson County and $20.78M to Montana DEQ.
- Montana Goldfields, Inc. issued a $28.58 million senior secured promissory note to Silver Bow Mining.
- Silver Bow Mining purchased $5 million in senior secured notes from Montana Goldfields, Inc. at 8% interest.
Price Impact
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