Mako Mining Provides Corporate Update

Rhea-AI Summary

Mako Mining Corp (TSXV:MKO)(OTCQX:MAKOF) has announced key corporate updates. The company has appointed Steve Parsons as President, who previously served as Officer of the subsidiary Goldsource Mines since its acquisition in July 2024.

The company has granted 740,000 stock options to executive officers, employees, and contractors, with a five-year term expiring April 18th, 2030. These options will vest in 25% installments from 2026 to 2029, with an exercise price of C$4.47.

Additionally, Mako has awarded 502,785 restricted share units with a restricted period ending in 2028, and 145,000 deferred share units to directors, vesting upon service termination.

Positive

• Strengthened leadership with appointment of experienced executive Steve Parsons as President
• Implementation of comprehensive equity compensation plan to align management interests with shareholders

Negative

• Potential shareholder dilution from issuance of 740,000 stock options and over 647,000 share units

VANCOUVER, BC / ACCESS Newswire / April 21, 2025 / Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) ("Mako" or the "Company") is pleased to announce the appointment of Steve Parsons as President of Mako, having served as Officer of the Company's subsidiary, Goldsource Mines Inc. since the completion of the Company's acquisition of Goldsource in July 2024.

The Company also announces that it has granted an aggregate of 740,000 stock options of the Company under the terms of the Company's Omnibus Incentive Plan (the "Plan") to the Company's executive officers and certain other employees and contractors. The stock options have a term of five years expiring April 18^th, 2030, and will vest in equal installments of 25% on April 18^th 2026, 2027, 2028 and 2029. The exercise price of the stock options is C$4.47.

The Company has also granted an aggregate of 502,785 restricted share units of the Company under the terms of the Plan to its executive officers and certain other employees and contractors, with a restricted period ending in 2028, and an aggregate of 145,000 deferred share units of the Company under the terms of the Plan to its directors, vesting on termination of service.

On behalf of the Board,
Akiba Leisman
Chief Executive Officer

About Mako
Mako Mining Corp. is a publicly listed gold mining, development and exploration company. The Company operates the high-grade San Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the highest-grade open pit gold mines globally and offers district-scale exploration potential. Mako also owns the Moss Mine in Arizona, an open pit gold mine in northwestern Arizona. Mako also holds a 100% interest in the PEA-stage Eagle Mountain Project in Guyana, South America. Eagle Mountain is the subject of engineering, environmental and mine permitting activity.

For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 917-558-5289, E-mail: aleisman@makominingcorp.com or visit our website at www.makominingcorp.com and SEDAR+ www.sedarplus.ca.

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.

Forward-Looking Information: Statements contained herein, other than historical fact, may be considered "forward-looking information" within the meaning of applicable securities laws. Forward-looking information can be identified by words such as, without limitation, "estimate", "project", "believe", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" or variations thereon or comparable terminology. The forward-looking information contained herein is based on the Company's plans and expectations and assumptions as of the date such statements are made and includes information concerning the vesting schedule for the stock options, restricted share units and deferred share units disclosed herein. Such forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking information, including, without limitation, any changes that may be made to the vesting schedules for the stock options, restricted share units and deferred share units disclosed herein and other risks and uncertainties as disclosed in the Company's public disclosure filings on SEDAR+ at www.sedarplus.ca. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available and is included for the purposes of providing investors with the current corporate updates stated herein, and may not be appropriate for other purposes. Mako does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.

SOURCE: Mako Mining Corp.

View the original press release on ACCESS Newswire

FAQ

What is the exercise price and vesting schedule for MAKOF's newly granted stock options?

The stock options have an exercise price of C$4.47 and will vest in 25% installments annually from April 18th 2026 through 2029.

How many restricted share units did Mako Mining (MAKOF) grant in their latest corporate update?

Mako Mining granted 502,785 restricted share units with a restricted period ending in 2028.

When was Steve Parsons appointed as President of Mako Mining?

Steve Parsons was appointed as President of Mako Mining in April 2025, following his role as Officer at Goldsource Mines subsidiary.

What is the expiration date for MAKOF's newly issued stock options?

The stock options have a five-year term, expiring on April 18th, 2030.