Mr. Kevin Bullock reports
ANACONDA MINING ANNOUNCES FULL EXERCISE OF EXPIRING WARRANTS AND PARTICIPATION IN UPCOMING BMO GLOBAL METALS & MINING CONFERENCE
Anaconda Mining Inc.'s holders of share purchase warrants expiring on Jan. 10, 2021, have exercised their rights in full. The company has accordingly issued 7,837,544 common shares and received proceeds of $3,526,895 based on the exercise price of 45 cents. In addition, the company received proceeds of $487,500 from the full exercise of share purchase warrants that expired on Dec. 23, 2020, for which the company issued 1,381,250 common shares.
"We are pleased that our warrant holders exercised all the outstanding warrants that were expiring and were able to benefit from the continued growth in value of the company since the securities were issued in 2019. The proceeds from the exercise of the warrants only strengthen what is an already strong treasury while we continue to generate free cash flow from our operations. We begin 2021 in an excellent position to execute our growth programs and create further value for our shareholders," said Kevin Bullock, president and chief executive officer of Anaconda Mining.
Upcoming investment conference
The company is also pleased to announce that Mr. Bullock, president and CEO, will be participating in the BMO Capital Markets Global Metals and Mining Conference to be held virtually from March 1 to March 5, 2021. The BMO Capital Markets Global Metals and Mining Conference connects mining companies with institutional finances, private equity groups, family offices and sector analysts.
About Anaconda Mining Inc.
Anaconda is a Toronto Stock Exchange and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte mining district of Newfoundland which includes the fully permitted Pine Cove mill, tailings facility and deep-water port, as well as approximately 11,000 hectares of highly prospective mineral lands including those adjacent to the past-producing, high-grade Nugget Pond mine at its Tilt Cove gold project. Anaconda is also developing the Goldboro gold project in Nova Scotia, a high-grade resource and the subject of a continuing feasibility study.
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