Mercado Minerals Ltd. (CSE: MERC) (“Mercado” or the “Company“) is pleased to announce the closing of its non-brokered private placement financing (the “Offering“). In connection with closing of the Offering, the Company issued 27,990,000 units (each, a “Unit“) at a price of C$0.20 per Unit for gross proceeds of C$5,598,000. The Offering included participation and a strategic investment from Vizsla Silver Corp (“Vizsla”) in Mercado.
Daniel Rodriguez, CEO and Director commented, “We received overwhelming support in this financing, and I am excited to start advancing Copalito and Zamora as we strive to become a premier explorer focused on the under explored western margin of the Sierra Madre. I would like to welcome Vizsla as a shareholder and I am looking forward to their support as we grow.”
Each Unit consists of one common share of the Company (each, a “Common Share“) and one half of one Common Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant is exercisable by the holder thereof to acquire one Common Share (a “Warrant Share“) at a price of C$0.35 until November 28, 2028.
Finder’s fees of $218,400 were paid in cash and 1,074,500 finder’s warrants were issued to certain eligible parties. Each finder’s warrant is exercisable at C$0.35 until November 28, 2028. All securities issued with respect to the Offering are subject to a four month and a day hold period expiring on March 29, 2026.
Proceeds from the Offering will be allocated towards several initiatives, including exploration of the recently acquired properties Copalito and Zamora, acquisition costs, the generation of new project acquisitions, investor relations programs, and general corporate working capital.
About Mercado Minerals Ltd.
Mercado Minerals Ltd. (CSE: MERC) is a company involved in the business of acquiring and exploring mineral properties in the Americas. Mercado has been primarily involved in the exploration and evaluation of the Porter Property, located within the Alberni Mining Divisions of British Columbia.
For further information, contact:
Daniel Rodriguez
CEO & Director
Phone: (604) 353-4080
Email: [email protected]
John Fraser
VP Business Development & Director
Phone: (604) 838-7677
Email: [email protected]
Forward-Looking Statement (Safe Harbor Statement):
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate,” “plan,” “continue,” “expect,” “estimate,” “objective,” “may,” “will,” “project,” “should,” “predict,” “potential” and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company’s exploration plans and the intended use of proceeds from the Offering. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source
Read the full article here
