MRZ Mirasol Resources Ltd.

Mirasol Resources Announces Shareholder Loan Transaction

Mirasol Resources Announces Shareholder Loan Transaction

VANCOUVER, British Columbia, March 14, 2025 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. ("Mirasol") is pleased to announce that it has obtained a loan of $2,000,000 (the “Loan”) from Mr. John Tognetti, a director and control person of Mirasol.  The Loan bears interest at the rate of 10% per annum, is payable at the end of one year, may be repaid at any time without penalty and is secured by a General Security Agreement.  Mirasol expects to use the Loan proceeds primarily to pay its arm’s length creditors and for general working capital.

In connection with the Loan, the Company has issued an aggregate of 500,000 common shares (the “Bonus Shares”) to Mr. Tognetti.  The aggregate value of the Bonus Shares equals 10% of the principal amount of the Loan.

Due to Mr. Tognetti’s relationship with Mirasol, the Loan transaction (including issuance of Bonus Shares) is deemed to be a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”).  The Loan transaction is exempt from the requirement for a formal valuation and minority approval in accordance with, respectively, sections 5.5(b) and 5.7(a) of MI 61-101, as Mirasol is listed on the TSX Venture Exchange and the fair market value of the Loan transaction does not exceed 25% of Mirasol’s market capitalization.  There is less than 21 days between the date of the Loan and the filing date of the related material change report due to Mirasol’s need for the Loan proceeds to pay creditors.

The Bonus Shares will be subject to a four month hold period commencing from the date of issuance thereof. The Loan and Bonus Shares are subject to acceptance by the TSX Venture Exchange.

For further information, contact:

Tim Heenan, President & CEO

or

Troy Shultz, Vice President Investor Relations

Tel: +1 (604) 602-9989

Email:

Website:

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.



EN
14/03/2025

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Mirasol Resources Ltd.

 PRESS RELEASE

Mirasol Signs MOU for the Sale of the Virginia Silver Project and Land...

Mirasol Signs MOU for the Sale of the Virginia Silver Project and Landholdings in Argentina for US$8 Million Plus 2% NSR Royalty Ampere Metals to acquire Virginia Project for a total consideration of US$ 8.0 million: US$5 million for the sale of the mineral rights and US$3 million for the sale of the landholdings over 5 years of scheduled paymentsMirasol will retain a 2% NSR Royalty with the unilateral right to sell to Ampere Metals for a minimum of US$ 2.0 millionVirginia hosts an Indicated Resource of 11.7 million ounces at 357 g/t silver and Inferred Resource of 7.9 million ounces at 184...

 PRESS RELEASE

Second Drill Hole at Potro SE Extends Polymetallic Mineralization at M...

Second Drill Hole at Potro SE Extends Polymetallic Mineralization at Mirasol’s Flagship Sobek Gold-Silver-Copper Project in the Vicuña District, Chile Second drill hole testing the Potro SE target intersected the continuation of a polymetallic hydrothermal breccia system: 0.90m at 15.02 g/t gold Eq and 17.65m at 0.22 g/t gold Eq with high silver, lead, zinc and indications of copperThe mineralized system at Potro SE is hosted along the Ventana Fault which is also associated with the high-grade porphyry and breccia discoveries at Lunahuasi (NGEx Minerals) located ~3km to the NEDrilling to da...

 PRESS RELEASE

Mirasol Resources Announces Shareholder Loan Transaction

Mirasol Resources Announces Shareholder Loan Transaction VANCOUVER, British Columbia, March 14, 2025 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. ("Mirasol") is pleased to announce that it has obtained a loan of $2,000,000 (the “Loan”) from Mr. John Tognetti, a director and control person of Mirasol.  The Loan bears interest at the rate of 10% per annum, is payable at the end of one year, may be repaid at any time without penalty and is secured by a General Security Agreement.  Mirasol expects to use the Loan proceeds primarily to pay its arm’s length creditors and for general working capit...

 PRESS RELEASE

Initial Drill Results Prove Significant Polymetallic Mineralization at...

Initial Drill Results Prove Significant Polymetallic Mineralization at Mirasol’s Flagship Sobek Gold-Copper Project in the Vicuña District, Chile Initial drilling of the Potro SE target on Sobek North intersected a new polymetallic mineralized system: 17.4m at 0.72g/t gold Eq. including 3.0m at 2.39 g/t gold Eq and high silver, lead, zinc with indications of copperThe drill hole ended in strongly altered porphyritic rock and the system remains open laterally and at depthThe mineralized intercept is directly associated with a large IP-PDP geophysical chargeability response which underlies a ...

 PRESS RELEASE

Mirasol Resources Announces Option Grants

Mirasol Resources Announces Option Grants VANCOUVER, British Columbia, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) announced today that the Board of Directors has approved the grant of 1,586,250 incentive stock options (“Options”) to employees, officers, directors and consultants of the Company under the Company’s long-term incentive plan. The Options entitle the holders to purchase the equivalent number of common shares of the Company at a price of $0.55 per common share for a period of five years from the date of gra...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch