Commencement of Normal Course Issuer Bid
Commencement of Normal Course Issuer Bid
VANCOUVER, British Columbia, Dec. 07, 2023 -- Patagonia Gold Corp. (“ Patagonia ” or the “Company”) (TSXV: PGDC) is
pleased to announce that it has received approval from the TSX Venture Exchange (“TSXV”) of its Notice of Intention to Make
a Normal Course Issuer Bid (the “NCIB”).
Under the NCIB, the Company may purchase for cancellation up to 15,000,000 common shares (the “ Shares”) (representing
approximately 3.2% of its 469,069,490 issued and outstanding common shares as of November 27, 2023) over a twelve-month
period commencing on December 11, 2023. The NCIB will expire no later than December 10, 2024.
Patagonia believes that from time to time, the market price of its Shares may not reflect their underlying value and that the
purchase of its Shares may represent an appropriate and desirable use of corporate funds. The Company intends to fund the
purchases out of available cash.
All purchases made pursuant to the NCIB will be made through the facilities of the TSXV. The NCIB will be made in
accordance with the applicable rules and policies of the TSXV and applicable Canadian securities laws. The price that
Patagonia will pay for Shares in open market transactions will be the market price at the time of purchase. Any Shares that
are purchased under the NCIB will be cancelled. The actual number of Shares that may be purchased and the timing of such
purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share
price, best use of available cash, and other factors.
Patagonia has appointed Canaccord Genuity Corp. to make purchases under the NCIB on its own behalf.
About Patagonia Gold
Patagonia Gold Corp. is a South America focused, publicly traded mining company listed on the TSX Venture Exchange. The
Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia
region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-
Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to
over 430 properties in several provinces of Argentina and Chile and is one of the largest landholders in the province of Santa
Cruz, Argentina.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements regarding the
acquisition of Shares pursuant to the NCIB, advancement and development of gold and silver projects in the Patagonia region
of Argentina, and the anticipated growth in shareholder value. Wherever possible, words such as “may”, “will”, “should”, “could”,
“expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these
words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect
management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results,
performance or achievements to differ materially from the results discussed or implied in the forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this news release are based upon what management believes to be
reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking
statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no
obligation to update or revise them to reflect new events or circumstances, except as required by law.
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 news release.
For more information, please contact:
Christopher van Tienhoven, Chief Executive Officer
Patagonia Gold Corp
T: +54 11 5278 6950