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 SA DE CV (“Concordia“). Concordia is a privately owned Mexican remote company that owns mineral properties in Sinaloa, Mexico.
Under the terms of the agreement, Mercado acquired all of the outstanding share capital of Concordia in exchange for a cash payment of US$105,000 and the issuance of 6,000,000 shares of common stock (the “Consideration stocks”) to the shareholders of Concordia (collectively the “Salespeople“. “. Mercado will issue an additional 2,000,000 shares of common stock to the Sellers on the first anniversary of the completion of the Acquisition and an additional 2,000,000 shares of common stock to the Sellers on the second anniversary of the completion of the Acquisition. The Consideration Shares are subject to restrictions on resale, from which they will be released in four equal tranches every six months over a twenty-four month period.
The company also issued 300,000 shares of common stock to an independent third party who introduced Concordia and the acquisition to the company.
About Mercado Minerals Ltd.
Mercado Minerals Ltd. (CSE: MERC) is a company engaged in the acquisition and exploration of 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 more information please contact:
Daniel Rodriguez
CEO & Director
Phone: (604) 353-4080
Email: drodriguez@mercadominerals.com
John Fraser
VP Business Development and 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 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 regarding 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 as the Company can give no assurance that they will prove to be 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 intention or obligation to publicly update any forward-looking statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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