VANCOUVER, British Columbia, May 21, 2021 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) today announced it has been issued 2,805,212 common shares of Silver Sands Resources Corp. (“Silver Sands”), representing 5% of the issued and outstanding share capital of Silver Sands on May 20, 2021. The shares were issued pursuant to the terms of a mineral option agreement (the “Option Agreement”) dated May 20, 2020, as partial consideration for the grant by Mirasol of an option (the “Option”) to Silver Sands to acquire an undivided 100% interest in Mirasol’s Virginia Property, located in Santa Cruz province, Argentina.
Immediately before the issuance, Mirasol held 3,745,269 common shares of Silver Sands, representing approximately 6.7% of the issued common share capital of Silver Sands. Following the issuance, Mirasol held an aggregate of 6,550,481 common shares of Silver Sands, representing approximately 11.1% of the issued common share capital of Silver Sands.
Silver Sands has 58,909,453 common shares outstanding on an undiluted basis and 83,399,383 common shares outstanding on a fully diluted basis. On a fully diluted basis, Mirasol holds approximately 7.9% of the common share capital of Silver Sands.
Mirasol received the Silver Sands shares pursuant to the Option Agreement and holds the shares for investment purposes. The Option Agreement provides for the issuance to Mirasol of 19.9% of the common share capital of Silver Sands in stages over a period of three years from the date of the Option Agreement, if the Option is fully exercised by Silver Sands (see news release May 21, 2020).
For further information, contact:
Tim Heenan, President
or
Jonathan Rosset, VP Corporate Development
Tel: +1 (604) 602-9989
Email: contact@mirasolresources.com
Website: www.mirasolresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.