QualityStocksNewsBreaks – Silver Bow Mining Corp. (NYSE American: SBMT) Receives Bankruptcy Court Approval, Completes Initial Closing for Jefferson County Metallurgical Complex
Silver Bow Mining (NYSE American: SBMT) announced that the U.S. Bankruptcy Court for the District of Montana approved the sale of specified Montana Tunnels Mining assets comprising the Jefferson County Metallurgical Complex to Silver Bow and its wholly owned subsidiary, Silver Bow Tunnels Corp. The company also completed the initial closing under its previously announced definitive asset purchase agreement after funding approximately $28.58 million into escrow to satisfy specified creditor obligations, including approximately $4.27 million owed to Jefferson County and $20.78 million in specified obligations to the Montana Department of Environmental Quality. The initial closing does not transfer ownership of the Complex to Silver Bow. The company…