{"id":1093,"date":"2024-05-22T11:14:00","date_gmt":"2024-05-22T16:14:00","guid":{"rendered":"https:\/\/sunvalleyinv.com\/?p=1093"},"modified":"2025-08-22T11:23:51","modified_gmt":"2025-08-22T16:23:51","slug":"goldlogic-corp-announces-amendment-to-offtake-agreement-with-soma-gold-corp-to-support-2024-exploration-and-development-initiatives","status":"publish","type":"post","link":"https:\/\/sunvalleyinv.com\/es\/goldlogic-corp-announces-amendment-to-offtake-agreement-with-soma-gold-corp-to-support-2024-exploration-and-development-initiatives\/","title":{"rendered":"Goldlogic Corp. Announces Amendment to Offtake Agreement with Soma Gold Corp. to Support 2024 Exploration and Development Initiatives"},"content":{"rendered":"

TORONTO\u2013(BUSINESS WIRE<\/a>)\u2013Goldlogic Corp. (\u201cGoldlogic\u201d) <\/strong>(formerly Nueva Granada Gold Corp.), a subsidiary of Sunvalley Company DMCC (\u201cSun Valley\u201d or \u201cSun Valley Investments\u201d)<\/strong> is pleased to announce an amendment to its offtake agreement (the \u201cOfftake Agreement\u201d) with Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (\u201cSoma\u201d). The amendment includes an additional US$3 million advance to facilitate Soma\u2019s development work at the Aurora Mine and increase their 2024 exploration budget.<\/p>\n\n\n\n

Details of the Amended Offtake Agreement<\/strong><\/h2>\n\n\n\n

The revised Offtake Agreement provides Soma with an additional US$3 million from Goldlogic, for a total consolidated amount of US$8 million. In return, Soma will deliver a monthly cash payment equivalent to 59.9 ounces of gold to Goldlogic for 36 months, starting in June 2024 (Tranche 4). This follows the successful completion of Tranches 1 and 2 in January 2023. Tranche 3, which involves a 1% Net Smelter Return (NSR), remains unchanged.<\/p>\n\n\n\n

Strategic Allocation of Funds<\/strong><\/h2>\n\n\n\n

The additional funds will support Soma in completing the development work at the Aurora Mine to bring it into production by Q3 2024. Additionally, the funds will significantly increase Soma\u2019s 2024 exploration budget, accelerating drilling on several promising targets across their approximately 41,000-hectare property. These efforts aim to expand resource identification and enhance production capabilities.<\/p>\n\n\n\n

Vikram Sodhi, Executive Chairman of Goldlogic Corp., stated: \u201cWe are excited to continue our successful partnership with Soma Gold Corp. This amendment to our Offtake Agreement underscores our commitment to supporting Soma\u2019s exploration and development efforts in Antioquia, Colombia. Soma\u2019s advanced geological insights and commitment to exploration are evidenced by their impressive 2023 resource update and align well with our goal of fostering growth and success in the highly prospective and largely unexplored Colombian gold mining sector. We look forward to seeing the positive impacts of Soma\u2019s upcoming exploration campaign on their production and resource profile.\u201d<\/p>\n\n\n\n

Dentons Cardenas & Cardenas Abogados S.A.S (Colombia) acted as legal advisors to Sun Valley in connection with the Transaction.<\/p>\n\n\n\n

About Goldlogic<\/strong><\/h2>\n\n\n\n

Goldlogic (formerly Nueva Granada Gold Corp.), is a precious metals investments company, with a rapidly growing and innovative model of financing producers and developers around their refining requirements.<\/p>\n\n\n\n

Goldlogic provides up-front financing for capital requirements of precious metals producers. The company has a unique value proposition by investing in hi quality producing assets and cautiously selecting investment targets via strict due diligence processes and jurisdictional risk assessment.<\/p>\n\n\n\n

Acerca de Sun Valley<\/strong><\/h2>\n\n\n\n

Sun Valley es una firma privada de inversi\u00f3n enfocada en la industria de metales y miner\u00eda, con compa\u00f1\u00edas de portafolio y oficinas en Am\u00e9rica, Europa y Asia. El equipo directivo de Sun Valley cuenta con varias d\u00e9cadas de experiencia en compa\u00f1\u00edas mineras y de inversi\u00f3n, y combina habilidades financieras en diversas clases de activos con una amplia experiencia operativa en empresas tanto grandes como emergentes dentro de la industria de miner\u00eda y refinaci\u00f3n de metales preciosos. La firma financia toda la cadena de suministro de metales preciosos, incluyendo exploraci\u00f3n mineral, construcci\u00f3n de minas, producci\u00f3n, procesamiento y refinaci\u00f3n.<\/p>\n\n\n\n

Contacts<\/h2>\n\n\n\n

Para obtener m\u00e1s informaci\u00f3n relacionada con Sun Valley, por favor comun\u00edquese con:<\/strong><\/h3>\n\n\n\n

Camilo Alvarez
email:\u00a0calvarez@sunvalleyinv.com<\/a>
phone: +1 281 994 7031<\/p>\n\n\n\n

Link:https:\/\/www.businesswire.com\/news\/home\/20240522423581\/en\/Goldlogic-Corp.-Announces-Amendment-to-Offtake-Agreement-with-Soma-Gold-Corp.-to-Support-2024-Exploration-and-Development-Initiatives<\/u><\/a><\/p>\n\n\n\n

<\/p>","protected":false},"excerpt":{"rendered":"

TORONTO\u2013(BUSINESS WIRE)\u2013Goldlogic Corp. (\u201cGoldlogic\u201d) (formerly Nueva Granada Gold Corp.), a subsidiary of Sunvalley Company DMCC (\u201cSun Valley\u201d or \u201cSun Valley Investments\u201d) is pleased to announce an amendment to its offtake agreement (the \u201cOfftake Agreement\u201d) with Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (\u201cSoma\u201d). The amendment includes an additional US$3 million advance to facilitate Soma\u2019s development work […]<\/p>\n","protected":false},"author":1,"featured_media":1094,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23,1],"tags":[],"class_list":["post-1093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-goldlogic","category-sun_valley"],"_links":{"self":[{"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/posts\/1093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/comments?post=1093"}],"version-history":[{"count":2,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/posts\/1093\/revisions"}],"predecessor-version":[{"id":1096,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/posts\/1093\/revisions\/1096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/media\/1094"}],"wp:attachment":[{"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/media?parent=1093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/categories?post=1093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/tags?post=1093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}