Ranchero Gold Announces Completion of Debt Facility, Canadian Business Journal

VANCOUVER, British Columbia, November 29, 2022 (GLOBE NEWSWIRE) — Ranchero Gold Corporation (“Ranchero” or “Company”) (TSX.V: RNCH) is pleased to announce the closure of its drawdown facility (“Loan”) with American PT Metals LLC (“American Metals”). please refer to). Released September 26, 2022).

The loan was made by Minerales y Metales Earth, SA de CV, Mexico, a subsidiary of American (“Lender”), to Minera y Metalurgia Paika, SA de CV, an indirect wholly-owned subsidiary of the Company (“Borrower”). will be split. Metals, aggregate principal amount of US$500,000 under the terms of the Loan Agreement on November 16, 2022. The unpaid principal of the loan will accrue interest at the rate of 12% per annum and will be repaid by the maturity date. If the Borrower does not pay the Lender the full amount required under the terms of the Loan Agreement, the Borrower will pay default interest on the unpaid amount at a rate equal to 24 when added to the regular interest. % per annum until the outstanding amount is repaid. The Company has amended the terms of the Loan, as previously disclosed in the Company’s press release dated September 26, 2022, to the effect that the Loan cannot be converted into common stock of the Company and no securities of the Company will be issued pursuant to the Loan. stipulated.

The loan constitutes a “related party transaction” for purposes of Multilateral Agreement 61-101 – Protection of Minority Shareholders in Special Transactions (“MI 61-101”), Gustavo Mazon, director and manager of the company, is also the manager of American Metals. The Company has determined, pursuant to Sections 5.5(a) and 5.7(1)(a) of MI 61-101, with respect to the loan that he is relying on the exemption from the formal evaluation and minority shareholder approval requirements under MI 61-101. increase. The fair market value of the loans does not exceed 25% of the Company’s market capitalization as determined in accordance with MI 61-101.

American Metals is an investment fund focused on natural resources.

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:

Jesus Noriega
Interim Chief Executive Officer
+52 1 (662) 437 8520
[email protected]

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 loan repayments. 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 relating to our ability to repay outstanding liabilities under the loan.

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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