Mako Mining Provides Updates on Capital Structure and Outstanding Debt
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595 Burrard Street, Suite 2833
Vancouver, BC V7X 1K8
Tel: (604) 646-1580
www.makominingcorp.com
TSX-V: MKO | OTCQB: MAKOF
February 8, 2022
TSX-V: MKO; OTCQX: MAKOF
Mako Mining Provides Updates on Capital Structure and Outstanding Debt
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) would like to
announce an update to its capital structure since the end of the third quarter 2021 (“Q3 2021”).
Since the end of Q3 2021, 37,300,000 warrants and 12,340,000 options were cancelled or expired
unexercised. In February 2022 , 1,503,800 Restricted Share Units ("RSUs") were granted to certain
executive officers of the Company and an aggregate of 1,318,400 Deferred Share Units (“DSUs”) were
granted to the non-executive directors of the Company under the terms of the Company's Omnibus Incentive
Plan. This update corrects and supersedes the Company’s disclosure in its February 2, 2022 press release
that an aggregate of 494,400 DSUs were granted.
Additionally, since the end of Q3 2021, US$5.3 million of principal has been repaid to affiliates of Wexford
Capital LP (“Wexford”) and Sailfish Royalty Corp. (“Sailfish”).
Accordingly, as at the date of this press release, the Company’s current share capital structure is:
659,308,984 shares issued and outstanding (unchanged from Q3 2021) , 33,395,000 options outstanding
(45,735,000 in Q3 2021), 1,503,800 RSUs and 1,318,400 DSUs outstanding (0 RSUs and DSUs outstanding
in Q3 2021).
There is currently US$9.4 million of princi pal remaining on the Wexford loan and 3,895 ounces of gold
remaining on the Sailfish gold-linked loan (see press releases dated February 21, 2020 and August 30, 2021
for details on these two loans).
On behalf of the Board,
Akiba Leisman
CEO
About Mako
Mako Mining Corp. is a publicly listed gold mining, development and exploration company. The Company
operates the high -grade San Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the
highest-grade open pit gold mines globally. Mako’s primary objective is to operate San Albino profitably
and fund exploration of prospective targets on its district-scale land package.
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For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 203 -
862-7059, E-mail: [email protected] or visit our website at www.makominingcorp.com and
SEDAR www.sedar.com.
Forward-Looking Information: Statements contained herein, other than historical fact, may be considered
“forward-looking information” within the meaning of applicable securities laws. The forward -looking
information contained herein is based on the Company’s plans and certain expectations and assumptions,
including that the Company can operate San Albino profitably in order to fund exploration of prospective
targets on its district-scale land package. Such forward-looking information is subject to a variety of risks
and uncertainties which could cause actual events or results to differ materially from those reflected in the
forward-looking information, including, without limitation, risk risks and uncertai nties as disclosed in the
Company’s public disclosure filings on SEDAR at www.sedar.com. Such information contained herein
represents management’s best judgment as of the date hereof, based on information currently available
and is included for the purpose s of providing investors with the Company’s updates regarding its capital
structure and may not be appropriate for other purposes. Mako does not undertake to update any forward-
looking information, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.