Conditional Exchange Acceptance of Qualifying Transaction

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[{"type":"text","content":"Conditional Exchange Acceptance of Qualifying TransactionVANCOUVER, BC / ACCESSWIRE / May 16, 2023 / AADirection Capital Corp. (TSX-V:AAD.P) (the \"Company\") confirms that the Company has received TSX Venture Exchange (the \"Exchange\") conditional acceptance with respect to its Qualifying Transaction to acquire Centenario Gold Corp. and its Eden Property, an early stage mineral resource exploration property located in Sinaloa State, Mexico. The Exchange did waive the requirement for sponsorship.One of the conditions precedent to Exchange acceptance has been satisfied with the SEDAR filing of the prescribed form of Filing Statement together with the applicable expert consents. The Filing Statement may be viewed and downloaded at www.sedar.com under the Company's profile and under Centenario's profile.The Company is currently addressing the financing condition of the Exchange by way of Centenario raising a minimum $1,750,000 by way of subscription receipts at $0.15 per subscription receipt. This financing is expected to close in the next week or two in advance of closing the Qualifying Transaction. Please see the Filing Statement for a full description of this financing and the ultimate receipt by subscribers of units in the resulting issuer on closing of the Qualifying Transaction.Once the financing is closed the Company will be able to set a scheduled closing date for the Qualifying Transaction as the remaining conditions of the Exchange to be satisfied are within the control of the Company and should be addressable within a few days of the closing of the financing.Assuming the gross proceeds from the financing are exactly $1,750,000, on closing the Qualifying Transaction, the resulting issuer will have 40,805,485 common shares issued and outstanding of which 11,079,166 shares will be subject to 36 months escrow (10% released on closing, and 15% released every 6 months thereafter) and 2,000,000 shares will be subject to 18 months escrow (25% released on closing, and 25% released every 6 months thereafter).About Centenario Gold Corp.Centenario is an unlisted reporting issuer that, through its Subsidiary, holds an option to acquire a 100% interest in the Eden Property, subject to a 1% NSR. The Eden Property consists of two (2) contiguous and titled mineral concessions named El Eden and El Eden 1 covering approximately 2,489 hect...

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