Receives $2.1m from Warrant Exercises
VanGold Mining Corp. (TSX-V:VGLD) (OTCQX:VGLDF) announces that reflective of the Company’s new name, Guanajuato Silver Company Ltd. at the market opening on Thursday June 10, 2021 the Company’s shares will begin trading on the TSXV under the symbol GSVR and in the United States on the OTCQX market as GSVRF. Guanajuato Silver’s shares will have the following CUSIP and ISIN numbers: CUSIP: 40066W106; ISIN: CA40066W1068.
Guanajuato Silver is pleased to announce that between mid-March, 2021 and June 8, 2021 it has received approximately C$2,105,000 from the exercise of approximately 8,500,000 warrants held by shareholders of the Company. The exercised warrants represent a compilation of warrants issued in conjunction with various private placement financings completed by the Company from 2018-2020.
Cash Position: As at June 8, 2021 the Company had approximately C$7,250,000 cash on hand. This amount does not include proceeds from the US$7,500,000 (approximately C$9,080,000) loan facility announced in the Company’s news release of June 1, 2021. Assuming draw down of these funds in the near future, the Company will have approximately C$16,330,000 in cash to continue to refurbish the El Cubo mill and delineate/develop additional mineral resources at its Combined El Cubo and El Pinguico operation in Guanajuato, Mexico. The Company remains on schedule to restart the El Cubo mill in Q4, 2021.
About Guanajuato Silver Company Ltd.:
Guanajuato Silver is an exploration and development company engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico. The Company’s El Pinguico project is a significant past producer of both silver and gold located just 7 kilometers south of the city. The Company is now focused on the refurbishment of the El Cubo mill, and swift commencement of production from the El Cubo and El Pinguico Combined Operation, as well as delineating additional silver and gold resources through underground and surface drilling on its projects located in this 480-year-old mining camp.
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We acknowledge the [financial] support of the Government of Canada.