Oro X and Latitude Silver Announce Bridge Loan for Latitude Silver
Oro X and Latitude Silver Announce Bridge
Loan for Latitude Silver
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR FOR DISTRIBUTION TO
UNITED
STATES
NEWS WIRE SERVICES/
VANCOUVER, BC
,
May 19, 2021
/CNW/ -
ORO
X MINING CORP.
(TSXV: OROX) (OTC Pink:
WRPSF) ("
Oro X
" or the "
Company
") and Mines & Metals Trading (
Peru
) PLC ("
MMTP
", also
commercially known as "
Latitude Silver
") are pleased to announce that in connection with the
previously announced business combination between the Company and MMTP (the "
Business
Combination
"), Oro X has agreed to advance a
US$120,000
bridge loan to MMTP (the "
Loan
").
The Loan will be secured through a pledge of all the shares of a wholly-owned MMTP subsidiary.
MMTP will use the proceeds of the Loan to continue exploration and development drilling at the
Recuperada Project through to the end of June.
The parties expect the Business Combination to close prior to the end of
June 2021
.
About Oro X Mining
Oro X Mining is a Canadian mining company which recently announced the acquisition of Latitude
Silver and its 100%-owned Recuperada silver project. Following the closing of the Latitude Silver
acquisition the Company will be renamed Silver X Mining. Founders and management of the
Company have a successful track record of increasing shareholder value. For more information visit
our website at
www.oroxmining.com
.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities described in this news release in
the United States
. Such securities have not been, and
will not be, registered under the United States Securities Act of 1933, as amended (the "
U.S.
Securities Act
"), or any state securities laws, and, accordingly, may not be offered or sold within
the United States
, or to or for the account or benefit of persons in
the United States
or "
U.S.
Persons
", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless
registered under the U.S. Securities Act and applicable state securities laws or pursuant to an
exemption from such registration requirements.
ON BEHALF OF THE BOARD
Luis Zapata
CEO & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this news release are forward-looking statements and
information within the meaning of applicable securities laws. Forward-looking statements and
information can be identified by the use of words such as "expects", "intends", "is expected",
"potential", "suggests" or variations of such words or phrases, or statements that certain actions,
events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements in this news release include statements in respect of the anticipated
closing date of the Transaction. Forward-looking statements and information are not historical facts
and are subject to a number of risks and uncertainties beyond the Company's control. In particular,
there is no assurance that the conditions precedent to the Transaction and the Finco Amalgamation
will be satisfied on the terms currently proposed or at all. Actual results and developments are likely
to differ, and may differ materially, from those expressed or implied by the forward-looking
statements contained in this news release. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to update publicly or otherwise
revise any forward-looking statements, except as may be required by law.
SOURCE
Oro X Mining Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/May2021/19/c9430.html
%SEDAR: 00029200E
For further information:
Oro X Mining Corp., Luis Zapata, CEO, 604 358 1382 |
CO: Oro X Mining Corp.
CNW 18:30e 19-MAY-21