Mercado Minerals Announces Closing of Acquisition of Concordia Silver
Mercado Minerals Ltd. (CSE: MERC) (“Mercado” or the “Company”) is pleased to announce that it has completed the acquisition (the “Acquisition”) of Concordia Silver Company S.A. DE C.V. (“Concordia”). Concordia is an arms-length privately-held Mexican corporation that holds mineral properties in Sinaloa, Mexico.
Under the terms of the Agreement, Mercado acquired all of the outstanding share capital of Concordia in consideration for a cash payment US$105,000 and the issuance of 6,000,000 common shares (the “Consideration Shares”) to Concordia shareholders (collectively, the “Vendors”). Mercado will issue a further 2,000,000 common shares to the Vendors on the first anniversary of closing the Acquisition and a further 2,000,000 common shares to the Vendors on the second anniversary of closing the Acquisition. The Considerations Shares are subject to restrictions on resale from which they will be release in four equal tranches every six months over a twenty-four month period.
The Company has also issued 300,000 common shares to an arms-length third-party who introduced Concordia and the Acquisition to the Company.
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: drodriguez@mercadominerals.com
John Fraser
VP Business Development & Director
Phone: (604) 838-7677
Email: jfraser@mercadominerals.com
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. 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.
