TSX-V: MKO; OTCQX: MAKOF
VANCOUVER, BC, Feb. 8, 2022 /CNW/ - Mako Mining
Corp. (TSXV: MKO) (OTCQX: MAKOF) ("Mako" or the "Company")
would like to announce an update to its capital structure since the
end of the third quarter 2021 ("Q3 2021").
Since the end of Q3 2021, 37,300,000 warrants and 12,340,000
options were cancelled or expired unexercised. In February 2022, 1,503,800 Restricted Share Units
("RSUs") were granted to certain executive officers of the Company
and an aggregate of 1,318,400 Deferred Share Units ("DSUs") were
granted to the non-executive directors of the Company under the
terms of the Company's Omnibus Incentive Plan. This update corrects
and supersedes the Company's disclosure in its February 2, 2022 press release that an aggregate
of 494,400 DSUs were granted.
Additionally, since the end of Q3 2021, US$5.3 million of principal has been repaid to
affiliates of Wexford Capital LP ("Wexford") and Sailfish Royalty
Corp. ("Sailfish").
Accordingly, as at the date of this press release, the Company's
current share capital structure is: 659,308,984 shares issued
and outstanding (unchanged from Q3 2021), 33,395,000 options
outstanding (45,735,000 in Q3 2021), 1,503,800 RSUs and 1,318,400
DSUs outstanding (0 RSUs and DSUs outstanding in Q3 2021).
There is currently US$9.4 million
of principal remaining on the Wexford loan and 3,895 ounces of gold
remaining on the Sailfish gold-linked loan (see press releases
dated February 21, 2020 and
August 30, 2021 for details on these
two loans).
On behalf of the Board,
Akiba Leisman
CEO
About Mako
Mako Mining Corp. is a publicly listed gold mining, development
and exploration company. The Company operates the high-grade
San Albino gold mine in Nueva
Segovia, Nicaragua, which
ranks as one of the highest-grade open pit gold mines
globally. Mako's primary objective is to operate San Albino
profitably and fund exploration of prospective targets on its
district-scale land package.
Forward-Looking Information: Statements
contained herein, other than historical fact, may be considered
"forward-looking information" within the meaning of applicable
securities laws. The forward-looking information contained herein
is based on the Company's plans and certain expectations and
assumptions, including that the Company can
operate San Albino profitably in order to fund exploration of
prospective targets on its district-scale land package. Such
forward-looking information is subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking information,
including, without limitation, risk risks and uncertainties as
disclosed in the Company's public disclosure filings on SEDAR at
www.sedar.com. Such information contained herein represents
management's best judgment as of the date hereof, based on
information currently available and is included for the purposes of
providing investors with the Company's updates regarding its
capital structure and may not be appropriate for other purposes.
Mako does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Mako Mining Corp.
