Patagonia Announces Commencement of Normal Course Issuer Bid
PATAGONIA ANNOUNCES COMMENCEMENT OF NORMAL COURSE ISSUER BID
November 28, 202 2 Vancouver, B.C. 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 10,000,000 common
shares (the “ Shares”) (representing approximately 2.2% of its 466,566,441 issued and
outstanding common shares as of November 25, 2022 ) over a twelve- month period
commencing on December 2, 2022. The NCIB will expire no later than December 1, 2023.
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 mar ket 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 b ased 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 f ocused 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 4 30 properties in
several provinces of Argentina an d Chile and is one of the largest landholders in the
province of Santa Cruz, Argentina.
For more information, please contact:
Christopher van Tienhoven, Chief Executive Officer
Patagonia Gold Corp
T: +54 11 5278 6950
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FORWARD-LOOKING STATEMENTS
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 conside red 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.