Mako Mining Corp. (TSXV:MKO) entered into an arrangement agreement to acquire Goldsource Mines Inc. (TSXV:GXS) for CAD 33.28 million on March 25, 2024. The holders of the issued and outstanding Goldsource Shares will receive 0.2200 of a common share of Mako for each Goldsource Share.

Termination fee of CAD 1.35 million payable by Mako or Goldsource to the other under certain circumstances. The completion of the Transaction is subject to; (a) approval of the Goldsource security holders; (b) approval of the TSXV; (c) approval of the British Columbia Supreme Court; (d) there being no material adverse changes in respect of either Mako or Goldsource; (e) the approval at a special meeting of Goldsource security holders by (i) 662/3% of the votes cast by Goldsource shareholders, (ii) 662/3% of the votes cast by Goldsource shareholders and option holders, voting as a single class, and (iii) a simple majority of the votes cast by Goldsource shareholders. The boards of directors of Mako and Goldsource unanimously approved the entering into of the Arrangement Agreement.

The transaction is expected to close Q2 2024. Eight Capital is acting as financial advisor and fairness opinion provider to Mako, and Andrea FitzGerald of Cassels Brock & Blackwell LLP is acting as legal counsel to Mako. SCP Resource Finance LP is acting as financial advisor and fairness opinion provider to Goldsource, and Bernard Poznanski of Koffman Kalef LLP is acting as legal counsel to Goldsource.