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MX Gold Corp V.MXL.H

Alternate Symbol(s):  MXLGF

MX Gold Corp. is a Canada-based company. The Company is not engaged in any business activities. The Company no longer holds any mineral or mining properties.


TSXV:MXL.H - Post by User

Post by rockingroosteron May 06, 2021 9:07pm
358 Views
Post# 33149590

MXL closes NPI sale..see News release

MXL closes NPI sale..see News releaseFOR IMMEDIATE RELEASE May 6, 2021 MX Gold Closes Max Mine and Mill Project NPI Sale Vancouver, B.C. – MX Gold Corp. (NEX: MXL.H) (FSE: ODV) (OTCQX: MXLGF) (the “Company” or “MX Gold”) is pleased to announce that, further to the Company’s news release dated May 3, 2021, the Company has completed the sale of its 50% net profit interest (“NPI”) on gross cash income from the MAX Mine and Mill Project to Metallica Metals Corp. (“Metallica”) pursuant to the terms of an agreement dated May 3, 2021 (the “Agreement”). The Company was previously granted the NPI by Metallica (formerly Cameo Industries Corp.) pursuant to a share purchase agreement dated January 11, 2019, as amended (the “Share Purchase Agreement”). As consideration for the purchase of the NPI, Metallica, Metallica: (a) paid the Company a cash payment of $425,000; and (b) issued an aggregate of 1,000,000 common shares in the capital of Metallica (collectively, the “Metallica Shares”). The Metallica Shares are subject to a four month hold period in accordance with applicable securities laws. For more information on the NPI and the Share Purchase Agreement, please see the Company’s news releases dated May 3, 2021 and January 14, 2019 filed under the Company’s profile on SEDAR.
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