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Mako Mining Announces Exercise of Participation Right by Wexford Capital in Previosly Announced Private Placement Offering
Mako Mining Announces Exercise of Participation Right by Wexford Capital in Previosly Anno...
About this update from Mako Mining Corp.
[{"type":"text","content":"\n\n\n\nMako Mining Announces Exercise of Participation Right by Wexford Capital in Previosly Announced Private Placement Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, July 2, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\nTSX-V:  MKO; OTCQB: MAKOF\n VANCOUVER, BC, July 2, 2020 /CNW/ - Mako Mining Corp. (TSX-V: MKO) (OTCQB: MAKOF) (\"Mako\" or the \"Company\") is  pleased to announce that Wexford Capital LP has elected to exercise its participation right, pursuant to the investor rights agreement between the Company and Wexford dated November 9, 2018, in connection with the Company's previously announced C$28.4 million private placement offering (the \"Offering\") (see Company's press release dated June 26, 2020).  Wexford Spectrum Trading Limited and Wexford Catalyst Trading Limited, funds managed by Wexford Capital LP (collectively, \"Wexford\"), have agreed to purchase, on a non-brokered private placement basis, an aggregate of 41,000,000 units of Mako under the Offering, at a subscription price of C$0.40 per Unit, for aggregate proceeds of C$16,400,000, having the same terms as the Units under the bought deal portion of the Offering.\nThe net proceeds from Wexford will be used to fund (i) the remaining capital expenditures at the San Albino Gold Project in Nicaragua, (ii) exploration expenditures; and (iii) working capital and general corporate purposes.\nThe Offering is scheduled to close on July 16, 2020, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.\nThe issuance and sale of the Units to Wexford is considered to be a \"related party transaction\" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\").  The C...