/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
UNITED STATES NEWS WIRE
SERVICES/
VANCOUVER, BC, May 19, 2021 /CNW/ - ORO X MINING CORP. (TSXV: OROX) (OTC Pink:
WRPSF) ("Oro X" or the "Company") and Mines &
Metals Trading (Peru) PLC
("MMTP", also commercially known as "Latitude
Silver") are pleased to announce that in connection with the
previously announced business combination between the Company and
MMTP (the "Business Combination"), Oro X has agreed to
advance a US$120,000 bridge loan to
MMTP (the "Loan"). The Loan will be secured through a pledge
of all the shares of a wholly-owned MMTP subsidiary. MMTP will use
the proceeds of the Loan to continue exploration and development
drilling at the Recuperada Project through to the end of June.
The parties expect the Business Combination to close prior to
the end of June 2021.
About Oro X Mining
Oro X Mining is a Canadian mining company which recently
announced the acquisition of Latitude Silver and its 100%-owned
Recuperada silver project. Following the closing of the Latitude
Silver acquisition the Company will be renamed Silver X Mining.
Founders and management of the Company have a successful track
record of increasing shareholder value. For more information visit
our website at www.oroxmining.com.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described in
this news release in the United
States. Such securities have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities
laws, and, accordingly, may not be offered or sold within
the United States, or to or for
the account or benefit of persons in the
United States or "U.S. Persons", as such term is
defined in Regulation S promulgated under the U.S. Securities Act,
unless registered under the U.S. Securities Act and applicable
state securities laws or pursuant to an exemption from such
registration requirements.
ON BEHALF OF THE BOARD
Luis Zapata
CEO & Director
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.
Cautionary Statement Regarding "Forward-Looking"
Information
Some of the statements contained in this news release are
forward-looking statements and information within the meaning of
applicable securities laws. Forward-looking statements and
information can be identified by the use of words such as
"expects", "intends", "is expected", "potential", "suggests" or
variations of such words or phrases, or statements that certain
actions, events or results "may", "could", "should", "would",
"might" or "will" be taken, occur or be achieved. Forward-looking
statements in this news release include statements in respect of
the anticipated closing date of the Transaction. Forward-looking
statements and information are not historical facts and are subject
to a number of risks and uncertainties beyond the Company's
control. In particular, there is no assurance that the conditions
precedent to the Transaction and the Finco Amalgamation will be
satisfied on the terms currently proposed or at all. Actual results
and developments are likely to differ, and may differ materially,
from those expressed or implied by the forward-looking statements
contained in this news release. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company
undertakes no obligation to update publicly or otherwise revise any
forward-looking statements, except as may be required by law.
SOURCE Oro X Mining Corp.