// THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN
The Private Placement, subject to acceptance by the
Palisades, a Control Person of the Company, has subscribed for an aggregate of 15 million Shares demonstrating continued support of the Company’s growth plans. Presently Palisades holds approximately 37% of Mexican Gold’s issued and outstanding common shares and, following closing of the Private Placement, will hold approximately 43% of the then issued and outstanding common shares. As background, Palisades acquired a control position in the Company on
At the annual general and special meeting of shareholders of the Company held
Palisades is a Canadian resource-focused merchant bank and it shares a common director and officer 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. The acceptance of Palisades’ participation in the Private Placement has, as such, been unanimously approved by the Company’s board of directors, including all non-conflicted and all independent directors of the Company.
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 will not result in any new insiders or control persons of the Company and all securities to be issued pursuant to the Private Placement will be subject to a statutory four month hold period from the date of closing in accordance with applicable Canadian securities laws.
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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