// THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN
The proceeds of the Private Placement are to be used for exploration and advancement of the Company’s
Subsequent to the completion of the Private Placement, Palisades now directly holds 53,238,388 common shares of Mexican Gold representing approximately 43.16% of the Company’s issued and outstanding common shares on an undiluted basis. Palisades continues to hold the Warrants, 13,375,000 of which are each exercisable into a common share at an exercise price of
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. Palisades’ early warning report as required in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with their acquisition of securities of Mexican Gold can be found on the System for Electronic Document Analysis and Review (SEDAR) under Mexican Gold’s issuer profile at www.sedar.com.
Palisades is a Canadian resource-focused merchant bank and it shares a common director and officers with the Company. Philip O’Neill, Chief Executive Officer, President and a director of the Company also serves as Chief Operating Officer and a director of Palisades. In addition,
The participation of Palisades in this Private Placement constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and the policies of the
Completion of this Private Placement has not resulted in any new insiders or control persons of the Company and all securities issued pursuant to the Private Placement are subject to a statutory four month hold period expiring
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
About
Mexican Gold 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
For more information, please contact:
Philip O’Neill – CEO, President, and Director
E-mail: info@mexicangold.ca
Website: www.mexicangold.ca
Neither the
Cautionary Statements Regarding Forward Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the completion of the Offering and the use of proceeds of the Offering. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the failure of the
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