Vancouver, British Columbia, February 27, 2024 – MANTARO PRECIOUS METALS CORP. (TSXV: MNTR; OTCQB: MSLVF; FSE: 9TZ) (the “Company”) is pleased to announce that it plans to change its name to “First Andes Silver Ltd.” (the “Name Change”). The Name Change better reflects the Company’s focus on its high-grade Santas Gloria Silver Property in Peru.
Shareholders will not be required to exchange their existing share certificates for new certificates bearing the Company’s new name. The Name Change does not affect the Company’s share structure or the rights of the Company’s shareholders, and no further action is required by existing shareholders.
The Name Change is subject to acceptance of the TSX Venture Exchange.
Amended Terms of Private Placement Financing
The Company also announces that it has amended the terms of its previously announced non-brokered private placement (see news release dated February 1, 2024) (the “Offering”). The Offering now consists of up to 26,000,000 common shares (each a “Share”) at a price of $0.05 per Share for gross proceeds of up to $1,300,000.
Previously, the Offering had consisted of units of the Company at a price of $0.05 per unit for gross proceeds of up to $600,000.
The securities issued under the Offering will be subject to restrictions on resale for a period of four months from the date of issue. The Company may pay finders a fee in cash and/or share purchase warrants.
The proceeds of the Offering will principally be used for an initial drill program on the Santas Gloria Silver Property, to repay corporate indebtedness and administrative and maintenance costs on the Santas Gloria Silver Property.
The Offering is subject to the acceptance of the TSX Venture Exchange.
Appointment of New Director
The Company is also pleased to announce that it has appointed Greig Hutton as a director of the Company. Mr. Hutton, a P. Eng. for over 40 years, has been involved with mineral exploration for over 15 year and has served as Director or President with several junior mining companies. Mr. Hutton has a B. Sc. degree (1976) from Waterloo University and a M. Sc. (Geology) from the University of Western Ontario (2016).
About Mantaro Precious Metals Corp.
Mantaro Precious Metals Corp. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in Peru.
For more information please contact:
Jacob Garland
Phone: (604) 806-0626
E-mail: info@mantaropreciousmetals.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to Company’s limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.