First Mexican and Buenaventura Sign A Non-Binding Agreement for
Guadalupe Property in Mexico
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 to FMG
.
- 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,
Jim Voisin
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
legislation.
SOURCE First Mexican Gold Corp.