TSX-V Trading Symbol: FMG
VANCOUVER, Feb. 1, 2013 /CNW/ - First Mexican Gold Corp. (the "Company"
or "FMG") (TSX-V: FMG, Frankfurt: 21M) reports that the Company has
closed and the TSX Venture Exchange (the "TSXV") has accepted the
amendments to the $250,000 convertible loan agreement described in the
Company's news release of January 21, 2013.
The convertible loan agreement, as amended, now provides that:
The convertible loan will automatically be convertible into 2,500,000
(decreased from 2,777,778) common shares of FMG in the event a
definitive agreement with Buenaventura is not concluded within the
60-day period ending March 26, 2013. In the event a definitive
agreement is concluded within the 60-day period, the convertible loan
will be terminated and credited towards the first cash payment payable
The conversion price has been increased to $0.10 from $0.09 per share.
Any shares issued on conversion of the convertible loan, will be subject
to a hold period expiring on June 1, 2013.
The Company is an active explorer for precious metals in Mexico and
holds a 100% interest in the Guadalupe property package. The Company
holds extensive exploration rights in this area that is attracting
attention from major mining companies.
On behalf of the Board of Directors,
President & CEO
First Mexican Gold Corp.
519 699 5352
We seek safe harbour.
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.
This news release includes certain forward-looking statements or
information. All statements other than statements of historical fact
included in this release, including, without limitation, statements
relating to the potential mineralization and geological merits of the
Guadalupe property and other future plans, objectives or expectations
of the Company are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from the Company's plans or expectations include
risks relating to the actual results of current exploration activities,
fluctuating gold prices, possibility of equipment breakdowns and
delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions, regulatory
changes, timeliness of government or regulatory approvals and other
risks detailed herein and from time to time in the filings made by the
Company with securities regulators. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
SOURCE: First Mexican Gold Corp.
For further information:
Vancouver Head Office
#1000, 355 Burrard Street Vancouver, B.C. V6C 2G8 Canada
Phone: 604 681 7265