Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) is pleased to announce that, further to its news release dated February 15, 2024 and following receipt of the required approval of the TSX Venture Exchange, it has now closed its debt settlement transaction in the amount of US$960,000 with GR Silver Mines Ltd. by way of cash payment in the amount of US$500,000 and the issuance of 296,710 shares of Mako Mining Corp. at a deemed price of C$2.1007 (US$460,000; C$623,300). The shares will be subject to a four-month regulatory hold period from the date of issuance.

The Company also announces that it has entered into a further amendment (the “Loan Amendment Agreement”) to the loan agreement dated February 20, 2020 (as amended from time to time, the “Existing Loan Agreement” and as further amended by the Loan Amendment Agreement, the “Loan Agreement”) between the Company, Wexford Capital LP (“Wexford”), as agent for the Lenders, and each of Wexford Catalyst Trading Limited, Wexford Spectrum Trading Limited, Wexford Focused Trading Limited and Debello Trading Limited (collectively, the “Lenders”), pursuant to which Wexford and the Lenders have agreed to extend the maturity date of the loan by four years, from March 31, 2025, to March 31, 2029, to allow the Company more time to repay the accrued and unpaid interest (including deferred amounts), interest on unpaid interest and cash bonus interest, owing under the Loan Agreement, which as of March 26, 2024, totaled US$6,369,937.64, in the aggregate. The entirety of the principal amount of the loans advanced under the Loan Agreement was repaid prior to the date hereof and only the accrued interest (including deferred amounts), interest on unpaid interest and cash bonus interest remains payable thereunder.

Akiba Leisman, CEO of Mako states: “The removal of the contingent liability, which we first announced in February, and the maturity extension of the Wexford accrued ... see & read more on
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