08:37 AM EDT, 10/04/2024 (MT Newswires) -- Santacruz Silver Mining ( SCZMF ) , which rose 6% yesterday, on Friday said that it signed a definitive omnibus agreement and an amended and restated omnibus security agreement, each with an effective date of October 3, 2024, with certain Glencore entities to amend certain transaction documents in connection with the prior sale by Glencore of its Bolivian mining assets to Santacruz.

A statement noted the definitive agreements are the result of arm's length negotiations between Santacruz and Glencore and supersede the binding term sheet entered into between the parties dated March 28, 2024.

"This agreement marks a significant milestone for Santacruz, providing us with enhanced financial flexibility as we move forward with our strategic plans," said Arturo Prestamo, executive chairman and CEO. "The revised payment structure allows us to better manage our cash flow while maintaining the ability to accelerate payments if it becomes beneficial to do so."

Friday's statement noted the definitive agreements and the transactions contemplated thereby are subject to final acceptance of the TSX Venture Exchange.