TSX-V: MKO; OTCQX: MAKOF
VANCOUVER, BC, Oct. 13, 2021 /CNW/ - Mako Mining
Corp. (TSXV: MKO) (OTCQX: MAKOF) ("Mako" or the
"Company") announces that the TSX Venture Exchange (the
"TSXV") has accepted its normal course issuer bid (the
"NCIB") to purchase up to an aggregate of 32,965,449
common shares ("Common Shares") of the Company, representing
5% of the 659,308,984 Common Shares issued and outstanding on
the date hereof.
Purchases under the NCIB may be commence on October 19, 2021, and will end no later than
October 18, 2022. The Common Shares will be purchased for
cancellation through the facilities of the TSXV in accordance with
its policies and at market price. Mako has retained PI
Financial Corp. to make purchases on its behalf under the NCIB.
The Board of Directors and senior management of the Company
believe that its Common Shares have been trading in a price range
that does not adequately reflect their value in relation to the
Company's business and future business prospects. The
repurchase of the Company's Common Shares therefore is a prudent
use of funds and in the best interests of Mako and its
shareholders.
On behalf of the Board,
Akiba Leisman
Chief
Executive Officer
About Mako
Mako Mining Corp. is a publicly listed gold mining, development
and exploration company. The Company operates the high-grade
San Albino gold mine in Nueva
Segovia, Nicaragua, which
ranks as one of the highest-grade open pit gold mines
globally. Mako's primary objective is to operate San Albino
profitably and fund exploration of prospective targets on its
district-scale land package.
Forward-Looking Information: Some of the
statements contained herein may be considered "forward-looking
information" within the meaning of applicable securities laws.
Forward-looking information can be identified by words such as,
without limitation, "estimate", "project", "believe", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" or
variations thereon or comparable terminology. The forward-looking
information contained herein reflects the Company's current beliefs
and expectations, based on management's reasonable assumptions, and
includes, without limitation, that the Company will
make repurchases of its Common Shares under the NCIB over the next
12-month period and that Mako will meet its objective to operate
San Albino profitably and fund exploration of prospective targets
on its district-scale land package. Such forward-looking
information is subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially
from those reflected in the forward-looking information, including,
without limitation, volatility in share price, market risk,
Company's cash flow generation being weaker than expected, the
ability to repurchase Common Shares under the NCIB at times
desires, changes in the Company's exploration and development plans
and parameters and other risks and uncertainties as disclosed in
the Company's public disclosure filings on SEDAR at www.sedar.com.
Such information contained herein represents management's best
judgment as of the date hereof, based on information currently
available and is included for the purposes of providing investors
with information regarding the Company's proposed NCIB, and
may not be appropriate for other purposes. Mako does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
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.
SOURCE Mako Mining Corp.