DynaResource Announces Offtake Extension, Credit Line Expansion and Private Placement

DynaResource, Inc. (OTCQX:DYNR) has announced significant updates regarding its San Jose de Gracia gold project in Sinaloa, Mexico. The company has extended its commercial offtake agreement with Ocean Partners UK Limited through December 2028.

Ocean Partners will provide a Temporary Additional Credit Line of $4 million, payable by November 30, 2024. Additionally, the Revolving Credit Line will increase from $10 million to $12.5 million after certain conditions are met.

Golden Post Rail LLC, a major shareholder, will purchase $2.5 million worth of DynaResource shares at $1.61 per share. The funds will be used to enhance mining activities and expand facilities at San Jose de Gracia.

Rohan Hazelton, President & CEO of DynaResource, expressed his satisfaction with the support from stakeholders. Brent Omland, co-CEO of Ocean Partners, highlighted the ongoing collaboration and development of the San Jose de Gracia project.