THUNDER BAY, ONTARIO–(Marketwired – May 10, 2017) – MEXICAN GOLD CORP. (“Mexican Gold” or the “Company”) (TSX VENTURE:MEX) is pleased to announce that further to its news release dated September 28, 2016, the Company has issued an aggregate of 1,052,129 common shares (“Common Shares“) at a deemed price of $0.31 per Common Share and an aggregate of 611,000 Common Shares at a deemed price of $0.25 per Common Share to certain of its officers and/or directors in settlement of outstanding debt in the aggregate amount of $478,910.22 (the “Debt Settlement“) as summarized below.
The Company directly or indirectly issued: (i) 716,877 Common Shares at a deemed price of $0.31 per Common Share and 330,000 Common Shares at a deemed price of $0.25 per Common Share to Brian Robertson, the Chairman, President and Chief Executive Officer of the Company, in settlement of outstanding debt in the amount of $304,732; (ii) 335,252 Common Shares at a deemed price of $0.31 per Common Share and 150,000 Common Shares at a deemed price of $0.25 per Common Share to David Baker, a director and the former Executive Chairman of the Company, in settlement of outstanding debt in the amount of $141,428.22; (iii) 65,500 Common Shares at a deemed price of $0.25 per Common Share to Earl Terris, a director of the Company, in settlement of outstanding debt in the amount of $16,375; and (iv) 65,500 Common Shares at a deemed price of $0.25 per Common Share to Gorden Glenn, a director of the Company, in settlement of outstanding debt in the amount of $16,375.