Business
Palisades Goldcorp Takes a 36.6% Ownership Position in Mexican Gold
VANCOUVER, British Columbia, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Mexican Gold Corp. (the “Company” or “Mexican Gold") (TSXV: MEX) is pleased to announce that Pali
About this update from Mexican Gold Mining Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Mexican Gold Corp. (the “Company” or “Mexican Gold\") (TSXV: MEX) is pleased to announce that Palisades Goldcorp Ltd., a private Vancouver Company, (“Palisades”) has acquired, by way of private agreements, an aggregate of 18,278,488 common shares of the Company and warrants to purchase a further 11,875,000 shares in consideration of an aggregate of 4,916,600 common shares of Palisades. The acquisition of shares results in Palisades owning an aggregate of 37,821,388 common shares representing 36.6% of the outstanding shares of the Company and 13,375,000 warrants. Exercise of all warrants held by Palisades would increase its holdings to 51,196,388 shares, or 43.9% of the Company’s outstanding shares. 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. Collin Kettell, Founder and Executive Chairman of Palisades Goldcorp stated: “Palisades was founded with the goal to take significant positions in undervalued companies and assets. It is with great pleasure that we announce Mexican Gold as a core holding in our portfolio. Our team believes that Mexican Gold provides an incredible opportunity to capitalize on what we believe to be an impending bull market in junior resources. We look forward to working closely with management in formalizing future plans for Mexican Gold.” Philip O’Neill, CEO and Director of Mexican Gold stated, “I have spent the last few months exploring and advancing the Las Minas Project in Mexico while also working closely with Collin Kettell and Christina McCarthy to form Palisades Goldcorp. As the CEO of Mexican Gold, I am excited to have Palisades become a cornerstone investor behind the Company. Palisades is well financed and well backed with a vision towards becoming the leading brand in mining. I believe Mexican Gold’s shareholders will benefit greatly in being a part of that vision.” About Mexican Gold Corp. Mexican Gold Corp. is a Canadian based mineral exploration and development company committed to building long-te...