TORONTO, ON / ACCESSWIRE / February 21, 2023 / PPX Mining Co., Ltd. (“ company ” again “ PPX “) is the amended and restated gold and silver purchase contract (“ Revised and restated GPA “) RIVI Opportunity Fund LP (“ Livy The Company and RIVI hereby agree to fulfill the Company’s streaming and payment obligations under the original Gold and Silver Purchase Agreement between the Company and RIVI dated October 10, 2016, subject to approval by the TSX Venture Exchange. agreed to rebuild the “ Original GPA ”).

The amended and restated GPA offers the following significant changes to the original GPA:

• Convertible Debentures: The due and outstanding balance of US$5,399,946 by RIVI under the original GPA as of September 30, 2022 will be fully satisfied by the Company issuing secured convertible debentures to RIVI for this amount. increase (“ convertible bond The convertible debentures mature three years after the date of issuance and pay semi-annual interest at 5% per annum. Company capital (“ stock “), at a conversion price of US$0.04 per share (subject to adjustment), subject to a conversion restriction that would result in RIVI owning 19.9% ​​or more of the outstanding shares on an approved basis on an as-converted basis. On the TSX Venture Exchange, we may advance all or part of the principal amount without penalty. (continued based on amended and revised GPA).
• Removal of default NSR royalties: The amended and restated GPA removes all default clauses under the original GPA that required companies to grant RIVI net smelter return royalties (including net smelter return royalties that RIVI may have earned). before execution of revised and restated GPA).
• Stream Duty Restructuring: The original GPA was the Karanquitas Mine (“ Stream percentage ”), currently operating Project La Patagonia SAC (“ PLP ”) and subject to certain production milestones. The revised and restated GPA will continue to earn ounces of gold equivalents under the same stream percentages, but the maximum delivery obligation will be linked to 30% of the monthly net profit collected attributable to the company from the PLP. increase. (“ NPI “), not the equivalent number of ounces of gold produced by the Karankitas mine. Refined metals that need to be delivered in excess of the monthly maximum are accumulated in the stream account until the full amount is repaid (monthly 2.00% interest per year.) If a company receives an annual lump sum payment from PLP, it must use up to 40% of that payment to meet its accrued stream obligations and interest.

Executive Chairman Brian Imrie commented: Planned and expected cash flow. “

The foregoing amendments and issuance of convertible debentures are subject to receipt of the necessary approvals from TSX Venture Exchange and are effective.

About PPX Mining Corp:

PPX Mining Corp. (TSX.V: PPX.V, BVL: PPX) is a Canada-based mining company with assets in northern Peru. The company’s 100% owned flagship gold and silver project, Igor, is located in the prolific northern Peruvian gold belt in the eastern province of La Libertad.

On behalf of the Board of Directors
Brian Imrie
representative

82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Cautionary note regarding forward-looking information:

This press release contains forward-looking information and forward-looking statements (collectively, “ Forward-Looking Statements “) Statements regarding the completion of the amended and restated GPA with RIVI, the issuance of convertible debentures, and the expected profits of the Company and its transactions, as such terms are defined by applicable securities laws. Forward-looking statements, including but not limited to, are statements that relate to future events. In this context, forward-looking statements often address expected future business and financial performance. , often include words such as “predict,” “believe,” “plan,” “estimate,” “expect,” and “intend,” that an action or event “could ”, “may”, “could”, “should” or “could” statements or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances beyond our control. In addition, our actual results may differ materially from those stated or implied by the forward-looking statements. It is due to many different factors. Such uncertainties and risks include, among other things, the delay or inability to obtain necessary regulatory approvals in connection with this transaction. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot give any assurance that the events or circumstances reflected in the forward-looking statements will occur or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Therefore, undue reliance should not be placed on forward-looking statements. All forward-looking statements contained in this press release are made as of today’s date and the company may update or update any forward-looking statements as a result of new information, future events or otherwise. We are not obligated to disclose it. law.