Primero Mining plans to cut debt via $15 million asset sale proceeds

By Susanna Moon

Chicago, Nov. 14 – Primero Mining Corp. plans to reduce its debt using proceeds of an asset sale, according to a 6-K filing with the Securities and Exchange Commission.

Primero said it agreed to sell its Cerro del Gallo development project to Argonaut Gold Inc. for $15 million in cash.

The deal is expected to close by the end of the month.

Scotiabank is the financial adviser.

Primero is a precious metals producer based in Toronto.

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