Amarillo updates share capital after exercise of warrants and options

TORONTO, June 16, 2021 (GLOBE NEWSWIRE) — Analysis Capital Company (previously Mackie Capital Company) has exercised all of its 1,355,940 dealer compensation possibility models (CPU), mentioned Amarillo Gold Company (TSXV: AGC, OTCQB: AGCBF) at this time.

Issued in August 2019 because of the brokered portion of two personal placements, the CPUs had an train worth of $0.20 per CPU and an expiry date of August 29, 2021. Amarillo issued 1,355,940 widespread shares of the Firm and 1,355,940 widespread share buy warrants upon the train of the CPUs; every warrant is exercisable to accumulate one widespread share at a worth of $0.30 till August 29, 2021.

A small variety of warrants as a consequence of expire on August 29, 2021, have been exercised early. The 149,000 warrants had been a part of the 50,025,000 widespread share buy warrants issued on August 29, 2019, at $0.30 per warrant as a part of personal placements that raised gross proceeds of $10,005,000.

As well as, 292,000 warrants at $0.30 have additionally been exercised. These warrants had been a part of the 26,382,950 warrants issued on closing of the non-brokered personal placements on June 14, 2019, for complete gross proceeds of $5,276,590. The remaining 26,090,950 warrants expired on Might 31 and June 14, 2021.

One director additionally exercised 150,000 inventory choices at $0.28.

The train of the CPUs, warrants, and inventory choices have generated total proceeds of $400,788. There are 51,380,940 warrants at an train worth of $0.30 expiring on August 29, 2021, and 20,320,000 choices excellent.

The whole variety of shares excellent as at June 16, 2021 is 383,868,754.

About Amarillo

Amarillo is advancing two gold tasks positioned close to wonderful infrastructure in mining-friendly states in Brazil.

The event stage Posse Gold Challenge is on the Firm’s Mara Rosa Property in Goiás State. It has a constructive definitive feasibility examine that reveals it may be constructed right into a worthwhile operation with low prices and a powerful monetary return. Mara Rosa additionally reveals the potential for locating extra near-surface deposits that may lengthen Posse’s mine life past its preliminary 10 years. The exploration stage Lavras do Sul Challenge in Rio Grande do Sul State has greater than 22 prospects centered on historic gold workings.

Amarillo trades on the TSXV below the image AGC and the OTCQB below the image AGCBF. Go to www.amarillogold.com to study extra concerning the Firm’s concentrate on changing into a mid-tier Brazilian gold producer. Comply with us on LinkedIn, Twitter, and YouTube.

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Ahead-looking statements

This information launch accommodates forward-looking statements relating to the Firm’s present expectations relating to future occasions, together with its enterprise, operations and situation, and administration’s goals, methods, beliefs, and intentions.

Varied components might forestall or delay our plans, together with however not restricted to, the buying and selling worth of the widespread shares of the Firm, capital market situations, impacts from the coronavirus or different epidemics, counterparty threat, TSXV approval(s), contractor availability and efficiency, climate, entry, mineral and gold costs, and success and failure of the exploration and improvement carried out at varied phases of this system. Permission from the federal government and group can be required to proceed with future mining manufacturing. Readers ought to evaluation the Firm’s ongoing quarterly and annual filings, in addition to another extra documentation comprising the Firm’s public disclosure file, for added data on dangers and uncertainties relating to those forward-looking statements.

Readers must also evaluation the danger components relevant to junior mining exploration firms usually to higher perceive the number of dangers that may have an effect on the Firm. The Firm undertakes no obligation to replace publicly or in any other case revise any Ahead-looking statements whether or not because of new data or future occasions or in any other case, besides as could also be required by legislation.

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