Ranchero Gold Announces Convertible Loans, Canadian Business Journal

VANCOUVER, British Columbia, September 26, 2022 (GLOBE NEWSWIRE) — Ranchero Gold Corporation (“Ranchero” or “Company) (TSX.V: RNCH) announced that it has signed a letter of intent (“LOI”) for a US$500,000 working capital loan (“Loan”) from American PT Metals LLC. (“American Metals”), through Mexico Minerales y Metales Earth SA de CV, a wholly owned subsidiary of the Company, the principal of the 12% p.a. In the first year he starts the company at $0.085 per share and in the second year he starts at $0.10 CAD. American Metals is an investment fund focused on natural resources.

If Ranchero completes financing in excess of $1 million during the term of the Loan, the Loan will be paid immediately and Ranchero will use commercially reasonable efforts, subject to approval by TSX Venture Exchange, to pay the loan on the same terms as the Loan. loan respect.

The Company will use the proceeds of the loan to meet general working capital requirements and to fund ongoing exploration activities at the major ongoing Santa Daniela gold project. Loans are subject to TSX Venture Exchange approval. Securities issued in connection with the Loan are subject to a hold period that ends four months and one day after the Loan first progresses under applicable securities laws.

Our manager, Gustavo Mazon, is also the manager of American Metals. The loan is therefore considered a “related party transaction” as defined in Multilateral Agreement 61-101. Protection of Minority Shareholders in Special Transactions (“MI 61-101”). The loan is exempt from the formal evaluation and minority shareholder approval requirements of MI 61-101. This is because neither the fair market value of the shares issued nor the consideration paid pursuant to the loan will exceed 25% of the Company’s market capitalization. Prior to disbursement of the loan, it will be approved by the Company’s Board of Directors, and Mr. Mazon waives such approval.

The Company expects to complete the financing once the definitive agreement has been completed and all necessary approvals have been obtained.

About Ranchero

Ranchero is a gold exploration and development company currently focused on the 100% owned Santa Daniela Project in Sonora, Mexico. The Santa Daniela project consists of his large land package of over 22,200 hectares within Sierra Madre Occidental, Mexico. This is the newly emerged Gold Belt. The Santa Daniela Project is also close to many of the region’s major gold mining operations. Maiz Azul is the company’s most advanced prospect, with exploration efforts underway.

On behalf of our Board of Directors:

William Pincus
Chief Executive Officer and Director
+1303 589 3734

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “could”, “expect”, “plan”, “should” The use of the words “will”, “estimate”, “may” and similar expressions are intended to identify forward-looking statements. Among other things, this press release contains forward-looking statements regarding the completion of the planned loan. Although we believe that the expectations and assumptions upon which the forward-looking statements are based are reasonable, we cannot give any assurance that the forward-looking statements will prove correct and therefore do not express any Do not place undue reliance on it. Forward-looking statements address future events or circumstances and, therefore, involve inherent assumptions, risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks related to equity financing market conditions and regulatory approvals.

Management has provided the above summary of the risks and assumptions associated with the forward-looking statements in this press release in order to provide readers with a more comprehensive view of the future business of the Company. Our actual results, performance or achievements could differ materially from those expressed or implied by these forward-looking statements and, therefore, any of the events anticipated by the forward-looking statements. There is no warranty that anything will occur or will occur. If any of them do, what benefits can the company get from them. These forward-looking statements are made as of the date of this press release and, except as required by applicable securities laws, the Company may not make any forward-looking statements as a result of new information or future events. disclaims any intention or obligation to publicly update its forward-looking statements. event or result or other.

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