Palisades Goldcorp Takes a 36.6% Ownership Position in Mexican Gold
January 16 2020 - 4:30PM
Mexican Gold Corp. (the “Company” or “Mexican Gold") (TSXV: MEX) is
pleased to announce that Palisades Goldcorp Ltd., a private
Vancouver Company, (“Palisades”) has acquired, by way of private
agreements, an aggregate of 18,278,488 common shares of the Company
and warrants to purchase a further 11,875,000 shares in
consideration of an aggregate of 4,916,600 common shares of
Palisades. The acquisition of shares results in Palisades
owning an aggregate of 37,821,388 common shares representing 36.6%
of the outstanding shares of the Company and 13,375,000
warrants. Exercise of all warrants held by Palisades would
increase its holdings to 51,196,388 shares, or 43.9% of the
Company’s outstanding shares. The Company understands that
Palisades acquired the securities pursuant to exemptions from
applicable Canadian take-over bid legislation for investment
purposes and that Palisades may acquire or dispose of additional
securities of the Company in the future through the market,
privately, or otherwise, as circumstances or market conditions
warrant.
Collin Kettell, Founder and Executive Chairman of Palisades
Goldcorp stated: “Palisades was founded with the goal to take
significant positions in undervalued companies and assets. It
is with great pleasure that we announce Mexican Gold as a core
holding in our portfolio. Our team believes that Mexican Gold
provides an incredible opportunity to capitalize on what we believe
to be an impending bull market in junior resources. We look
forward to working closely with management in formalizing future
plans for Mexican Gold.”
Philip O’Neill, CEO and Director of Mexican Gold stated, “I have
spent the last few months exploring and advancing the Las Minas
Project in Mexico while also working closely with Collin Kettell
and Christina McCarthy to form Palisades Goldcorp. As the CEO of
Mexican Gold, I am excited to have Palisades become a cornerstone
investor behind the Company. Palisades is well financed and well
backed with a vision towards becoming the leading brand in mining.
I believe Mexican Gold’s shareholders will benefit greatly in
being a part of that vision.”
About Mexican Gold Corp.
Mexican Gold Corp. is a Canadian based mineral
exploration and development company committed to building long-term
value through ongoing discoveries and strategic acquisitions of
prospective precious metals and copper projects in the Americas.
Mexican Gold is exploring the Las Minas Project, which is located
in the core of the Las Minas mining district in Veracruz State,
Mexico, and is host to one of the newest, under-explored skarn
systems known in Mexico.
For more information, please contact:
Philip O’Neill – CEO, President, and DirectorE-mail:
info@mexicangold.caWebsite: www.mexicangold.ca
About Palisades Goldcorp Ltd.
Palisades Goldcorp is Canada’s largest resource focused merchant
bank, planning to make its public debut on the TSX Venture Exchange
in 2020. Led by Founder & Executive Chairman Collin
Kettell, Palisades’ management team has a demonstrated track record
of making money and is backed by many of the industry’s most
notable financiers. With junior resource equities valued at
generational lows, management believes the sector is on the cusp of
a major bull market move. Palisades is positioning itself with
significant stakes in undervalued companies and assets with the
goal of generating superior returns. Palisades was created by
shareholders, for shareholders.
For more information, please contact:
Collin Kettell – Founder & Executive ChairmanE-mail:
collin@palisades.caWebsite: www.palisades.ca
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
All statements in this press release, other than
statements of historical fact, are "forward-looking information"
with respect to Mexican Gold within the meaning of applicable
securities laws, and with respect to the Mexican Gold and
Palisades. Mexican Gold provides forward-looking statements for the
purpose of conveying information about current expectations and
plans relating to the future and readers are cautioned that such
statements may not be appropriate for other purposes. By its
nature, this information is subject to inherent risks and
uncertainties that may be general or specific and which give rise
to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals
and priorities will not be achieved. These risks and uncertainties
include but are not limited market conditions, exploration
findings, results and recommendations, as well as those risks and
uncertainties identified and reported in Mexican Gold’s public
filings under Mexican Gold’s SEDAR profile at www.sedar.com.
Although Mexican Gold has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
information, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Mexican Gold disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise unless required by law.
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