Mirasol holds an 8.6% stake in Silver Sands Resources Corp., The Canadian Business Journal

Vancouver, British Columbia, March 29, 2022 (GLOBE NEWSWIRE) — Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (“society” Also “Mirasol“) Today, Silver Sands Resources Corp. (“Silver Sands”) announced that Mirasol’s share of common stock in Silver Sands has decreased to less than 10% after completing the provision of non-intermediary units for securities (“private placement”). Mirasol did not participate in the private placement.

Mirasol will use 6,550,481 shares of Silver Sands common stock issued pursuant to the terms of the Mineral Option Agreement (“Option Agreement”) dated May 20, 2020 as partial consideration for the grant of options (“Option”) by Mirasol. I have it. Silver Sands will acquire an unsplit 100% stake in Mirasol’s Virginia Property in Santa Cruz, Argentina.

Private placement increased the common stock capital of Silver Sand to 76,549,249. Immediately before the private placement, Mirasol’s holdings accounted for approximately 10.4% of Silversand’s outstanding common stock capital. After the completion of the private placement, Mirasol’s holdings will be approximately 8.6% of Silversand’s outstanding common stock capital (determined undiluted).

Mirasol receives shares of Silver Sands in accordance with the option agreement and holds the shares for investment purposes. The option contract provides that if the option is fully exercised by Silver Sand, 19.9% ​​of Silver Sand’s common stock capital will be issued to Mirasol in stages over a three-year period from the date of the option contract (5). See monthly news release). 21, 2020).

The Early Warning Report is submitted by Mirasol in accordance with applicable securities law (“Early Warning Report”).

Mirasol holds common stock in Silver Sand for investment purposes. At any time, Mirasol may acquire additional common stock or other securities of Silver Sand or dispose of some or all of the common stock or other securities of Silver Sand that it currently holds. Subject to rights under the Option Agreement, Mirasol currently has other plans and intents related to or resulting from the actions listed in paragraphs (a)-(k) of item 5 of the Early Warning Report. Not, but market conditions, general economic and industry conditions, trading prices of Silversand securities, Silversand’s business and financial position and outlook and / or other related factors, Mirasol will have such plans or intentions in the future. May be formulated.

For more information, please contact:

Tim Heenan, President
Jonathan Rosette, Vice President of Corporate Development

Tel: +1 (604) 602-9989

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.

Precautions regarding future prospects
The specific information contained in this press release, including information related to Mirasol’s investment in Silver Sands, constitutes a “forward-looking statement.” All statements except historical facts are forward-looking statements. Expressions such as “continuation,” “potential,” “plan,” “intention,” and “will” indicate forward-looking statements. In particular, this press release relates to the possibility of Mirasol to acquire additional common stock or securities of Silversand, or to dispose of some or all of its common stock or other securities owned by Mirasol. Contains forward-looking statements, including but not limited to these. , And Mirasol’s profits under option contracts. Forward-looking statements include many assumptions, including important assumptions deemed reasonable by Mirasol on the date of this press release, in light of management’s experience and awareness of the current situation and expected developments. Inevitably based on, it is essentially an important business subject. Economic and competitive uncertainties and contingencies.

Many of these uncertainties and contingencies can affect the actual outcomes of Mirasol and are expressed or implied in forward-looking statements made by or on behalf of Mirasol. The actual result may differ significantly from the one. Readers should be careful not to overly rely on forward-looking statements that do not guarantee future events and speak only as of the date they were created. The latest management submitted to British Columbia and Alberta securities regulators for details on some of the factors underlying the forward-looking statement and the risks that may affect Mirasol’s ability to achieve. See specifically the discussion and analysis by the team. Expectations contained in the forward-looking statements contained in this press release. All forward-looking statements made in this press release are qualified by these notes. Mirasol disclaims any intention or obligation to update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as required by applicable law.

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Mirasol holds an 8.6% stake in Silver Sands Resources Corp., The Canadian Business Journal

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