Month: September 2023

James Anderson, Chairman and CEO, said, “The significant increase in the San Ignacio mineral resource across all categories can be attributed to the exceptional work on the part of our Mexican exploration teams; their efforts over the past year have expanded our understanding of the mineralized systems in place at San Ignacio while returning consistently high-grade results, some of which are highlighted below, that have led to an increase of 130% in the measured & indicated category and 283% in the inferred category.”

Simon Dyakowski, Aztec Minerals President & CEO stated, “We are pleased to complete this financing and are grateful for the ongoing support of our existing shareholders and several new shareholders. Notably, Aztec’s largest shareholder, Alamos Gold Inc. (TSX: AGI, NYSE: AGI) subscribed for 625,000 Units of the financing, thereby maintaining their equity ownership of approximately 8.8% on an undiluted basis.”

“This represents a further step towards right sizing our credit facility to support our growth pipeline, highlighted by our Mantoverde Development Project which remains on-time and on-budget. We are pleased to have achieved competitive terms and an extended maturity to 2027,” stated Raman Randhawa, Chief Financial Officer.

The sale of these non-core assets is aligned with Pan American’s stated aim of optimizing its portfolio following the acquisition of Yamana Gold Inc.

Orex Minerals Inc. today announced that, effective September 27, 2023, the Company will consolidate its issued and outstanding common shares at a ratio of ten pre-consolidation Shares to one post-consolidation share. The reasons for the Consolidation are to increase the Company’s flexibility and competitiveness in the marketplace and to attract new equity investment in the Company.

The Board of Directors of Colibri Resource Corporation is pleased to announce the appointment of Ian McGavney as the President and Chief Executive Officer of the Company. The Company also wishes to announce the retirement of Ron Goguen Sr. from the position of President and CEO.

As more fully described in the Company’s Information Circular dated August 9, 2023, shareholders were asked to consider and, if thought fit, to pass an ordinary resolution to approve the: (i) issuance of a five-year convertible promissory note to defer a US$25 million current liability owed to Equinox Gold Corp.; and (ii) creation of Equinox Gold, and/or any affiliates of Equinox Gold, as a new “Control Person” of the Company.

Greg Smith, President & CEO of Equinox Gold, commented: “This debt financing enables us to pay down part of our revolving credit facility, providing immediate interest savings while also positioning us to manage the upcoming maturity of our April 2024 $140 million convertible notes.”

Shawn Howarth, President and CEO of Excellon, commented, “We are pleased to reach an agreement with Debentureholders. The restructuring announced today reduces debt with zero cash outlay and minimal equity dilution. We also thank Debentureholders, who have invested significant capital to support Excellon and continue to believe in the long-term potential of the Company.”