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
CEO & Director
For further information, please contact:
Oro X Mining Corp.
Luis Zapata, CEO
604 358 1382 | email@example.com
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