The acquisition of Amarilo has been completed and a spin-out of Lovelas Gold is scheduled for April 1.Canadian Business Journal

Toronto, March 30, 2022 (GLOBE NEWSWIRE) — Amarillo Gold Corporation (“Amarillo” or “Company”) (TSXV: AGC, OTCQB: AGCBF) has announced the acquisition of Amarillo by a subsidiary of Hochschild Mining PLC.In planning an arrangement under (“arrangement”) Business corporation law (British Columbia) and Lavras Gold Corp. A spin-out of all shares of (“Lavras Gold”) to Amarillo shareholders is scheduled for April 1, 2022.

Based on the terms of the arrangement, each share of Amarilo will have a cash consideration of $ 0.40 and one share of Lavras Gold, a new Brazilian-focused exploration company based in Toronto (each “Lavras Gold Share”). Will be replaced. Ontario. Labras Gold is capitalized in approximately C $ 10 million in cash and has all of Amarilo’s assets and rights to the Labras Dossul Gold Project in southern Brazil in Rio Grande do Sul, as well as 2.0% net smelter revenue loyalty. I own. About certain exploration properties outside Amarilo’s current Posse resource in the Maralosa project.

The TSX Venture Exchange (“TSXV”) will stop trading Amarilo’s common stock on the TSXV premarket on March 30, 2022.

Lovelas Gold List

Labras Gold has received conditional approval to list its shares in Labras Gold on TSXV. The final listing approval is subject to Labras Gold, which meets all TSXV listing requirements. The trading symbol for Lovelas Gold shares is “LGC” and the ISIN and CUSIP numbers for Lovelas Gold shares are ISINCA51949L1004 and CUSIP51949L100, respectively.

More information about Lovelas Gold can be found in Lovelas Gold’s TSXV Form 2B List application. This application will be available on the Labras Gold profile on SEDAR at

Exchange Amarilo shares for arrangements

Information regarding the procedure for exchanging Amarilo shares for consideration for arrangements can be found in the Company’s Management Information Circular dated January 27, 2022.

Management information for cash consideration and exchange of Amarillo shares for Lovelas Gold shares The form of circulation and cover pages is available on our SEDAR profile ( and our website ( I can do it. Investor / amarillo-hochs child-transaction.

Registered Amarilo shareholders will fill out and sign a cover page to receive cash consideration, along with a certificate / DRS advice representing Amarillo’s shares and other necessary documents, as well as the address specified on the cover page. Must be returned to. Lovelas Gold Share after the effective date of the arrangement.

Unregistered Amarilo shareholders who hold shares through brokers, investment dealers, banks, trust companies, custodians, nominees, or other intermediaries or depositaries will contact the intermediary for instructions and assistance to receive consideration for the arrangement. need to do it.

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Neither the TSX Venture Exchange nor its Regulatory Service Providers (as defined in the TSX Venture Exchange Policy) are responsible for the validity or accuracy of the content of this news release.

Statement of future prospects and words of caution

The specific information provided in this news release constitutes a forward-looking statement. Specifically, this news release contains statements regarding the end of the arrangement, its expected timing, the proposed listing of Labras Gold shares on TSXV, and the future outlook for the capitalization of Labras Gold. These forward-looking statements are based on certain important expectations and assumptions regarding the timely satisfaction of all conditions up to the end of the arrangement and the TSXV listing requirements for Lovelas Gold.

Amarilo believes that the expectations and assumptions underlying the forward-looking statement are reasonable at the time of preparation, but Amarilo cannot provide any assurance that they will prove correct. You should not place excessive reliance on forward-looking statements. .. Forward-looking statements, by their very nature, carry inherent risks and uncertainties as they correspond to future events and circumstances. Actual results may differ materially from those currently expected due to a number of factors and risks, including the risk that the conditions for the arrangement and completion of the listing will not be met. There is no guarantee that the arrangement will end at the scheduled time or will end at all, that the Labras Gold shares will be listed on TSXV, or that Labras Gold will be capitalized with funds subject to the completion of the arrangement. These and other risks are detailed in Amarilo’s recent Circulation of Management Information and management discussions and analysis for the year ended December 31, 2021.

Forward-looking statements contained in this news release are current as of this document. Except as required by applicable securities law, Amarilo is obliged to publicly update or revise any forward-looking statement made in this document or otherwise as a result of new information, future events, etc. Shall not bear.

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The acquisition of Amarilo has been completed and a spin-out of Lovelas Gold is scheduled for April 1.Canadian Business Journal

Source link The acquisition of Amarilo has been completed and a spin-out of Lovelas Gold is scheduled for April 1.Canadian Business Journal

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