Minaurum Gold Inc. ("Minaurum" or the "Company") (TSXV:MGG) (OTCQX:MMRGF) announces that, in connection with the completion of Infinitum Copper Corp.'s (formerly Bayshore Petroleum Corp.) ("Infinitum") acquisition (the "Transaction") of Infinitum Copper Mining Corp. (formerly Infinitum Copper Corp.) (the "RTO Acquiror") as detailed in Infinitum's news release dated March 14, 2022 and Filing Statement dated February 11, 2022, the Company acquired beneficial ownership over 6,105,438 common shares of Infinitum (the “Shares”).
Prior to the Transaction, the Company did not hold beneficial ownership or control over any securities of Infinitum. Upon closing the Transaction, the Company now holds 6,105,438 Shares which represents 16.00% of Infinitum's issued and outstanding Shares, as of the closing date of the Transaction, on both a non-diluted and partially-diluted basis.
The Company acquired the securities pursuant to the Transaction and in accordance with a mineral property option and joint venture agreement dated February 17, 2021 entered into between the Company, the RTO Acquiror and Minera Minaurum Gold, S.A. de C.V., a wholly-owned subsidiary of the Company. The Company intends to evaluate its investment in Infinitum and to increase or decrease its shareholdings from time to time as the Company may determine appropriate for investment purposes.
This news release is being issued in accordance with National Instrument 62- 103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. A copy of the early warning report can be found on the Infinitum's SEDAR profile at www.SEDAR.com. For more information, or to obtain a copy of the early warning report, please contact:
Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTCQX; 78M | Frankfurt) is a Mexico-focused explorer concentrating on the high-grade Alamos silver project in southern Sonora. With a property portfolio encompassing multiple additional district-scale projects, Minaurum is managed by one of the strongest technical and finance teams in Mexico. Minaurum's goal is to continue its founders' legacy of creating shareholder value by making district-scale mineral discoveries and executing accretive mining transactions. For more information, please visit our website at www.minaurum.com and follow us on YouTube, Twitter and LinkedIn.
ON BEHALF OF THE BOARD
“Darrell A. Rader”
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu – Investor Relations and Corporate Development Manager
(778) 330 0994 or via email at firstname.lastname@example.org
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking statements in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum’ s current beliefs as well as assumptions made by and information currently available to Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.