Business
Mexican Gold Mining Corp. and Alcon Silver Corp. Announce Arrangement Agreement to Create a Diversified Precious Metals Exploration Company
Vancouver, British Columbia--(Newsfile Corp. - April 9, 2026) - Mexican Gold Mining Corp. (TSXV: ...
About this update from Mexican Gold Mining Corp.
[{"type":"text","content":"Mexican Gold Mining Corp. and Alcon Silver Corp. Announce Arrangement Agreement to Create a Diversified Precious Metals Exploration CompanyVancouver, British Columbia--(Newsfile Corp. - April 9, 2026) - Mexican Gold Mining Corp. (TSXV: MEX) (\"Mexican Gold\" or the \"Purchaser\") and Alcon Silver Corp. (\"Alcon\" or the \"Company\") are pleased to announce that they have entered into an arrangement agreement (the \"Arrangement Agreement\") dated April 8, 2026, pursuant to which Mexican Gold will acquire all of the issued and outstanding common shares of Alcon (the \"Company Shares\") in exchange for newly issued common shares in the capital of Mexican Gold (the \"Consideration Shares\") by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the \"Arrangement\").Under the terms of the Arrangement Agreement, Alcon shareholders will receive one post-consolidated share of Mexican Gold (see below for details regarding the proposed consolidation) for each Company Share held such that, following the effective time of the Arrangement (the \"Effective Time\"), the former Alcon shareholders will hold approximately 61% of the issued and outstanding common shares of Mexican Gold (the \"Purchaser Shares\") on a non-diluted basis. As at the date of the Arrangement Agreement, there are approximately 37,899,939 Company Shares and 41,216,639 Purchaser Shares issued and outstanding. Completion of the Arrangement is subject to a number of conditions, including, among other items, receipt of all required shareholder, regulatory and third-party consents, including approval of the Arrangement by the TSX Venture Exchange (the \"TSXV\").Transaction HighlightsFoundational Silver Deposit with Significant Growth Potential: The Princesa project (\"Princesa\") hosts a significant historical resource (A. Vachon, 2011) of 4.6 million tonnes, grading 90.88 g/t silver, 1.66% lead, and 1.69% zinc, with substantial expansion potential, as only 64 of 82 historical drill holes were included and just 1.5 km of the 2.2 km diatreme breccia vein has been drilled.iRobust District-Scale Gold Asset: The Las Minas project hosts a National Instrument 43-101- Standard of Disclosure for Mineral Projects (\"NI 43-101\") resourceii of 443,000 gold equivalent ounces of Indicated Resource at 3.34 AuEQ g/t and 361,000 gold equiv...