Peal Mexico Announces Shareholdings in Magna Gold Corp.

Peal Mexico Announces Shareholdings in Magna Gold Corp_

Hermosillo, Mexico–(Newsfile Corp. – July 17, 2020) – Peal Mexico S.A de C.V. (“Peal“) announces that on June 30, 2020 it acquired 11,000,000 common shares of Magna Gold Corp. (“Magna“) under the terms of a settlement agreement between Peal and a subsidiary of Magna entered into to settle an existing arbitration proceeding between the parties in relation to Magna’s San Francisco gold mine located in Sonora, Mexico (the “Settlement“). The common shares were issued at a deemed price of $0.35 per share for aggregate deemed consideration of $3,850,000.

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