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
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.
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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
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.
Contact:
Chief Executive Officer
Tel: +54 11 5278 6950
Email: cvantienhoven@patagoniagold.com
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