Magna Gold Secures $10 M in Funding with Founding and Strategic Shareholder to Accelerate …

The interest on the Debentures is convertible at the election of Delbrook into either cash or common shares of the Company based on the closing price on the day prior to the applicable interest payment date and will be paid in full, including in the event of early conversion.

Matthew Zabloski, the Managing Director of Delbrook commented: “We are excited to continue supporting Magna as it enters the next phase of its evolution into a production company with significant exploration potential.

The primary strength of the Company is the team of highly experienced mining professionals with a proven track record of developing properties in Mexico from discovery to production.

Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, ┬árisks related to the effects of COVID-19 on the Company; and those risks set out in the Company’s public documents filed on SEDAR.

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