TSX-V: MKO; OTCQX: MAKOF
VANCOUVER, BC, Nov. 26, 2020 /CNW/ - Mako Mining
Corp. (TSXV: MKO) (OTCQX: MAKOF) ("Mako" or the "Company")
announces that its previously issued audited consolidated financial
statements for the eight months ended December 31, 2019, and the corresponding
management's discussion and analyses (collectively, the "Restated
Documents") have been restated and reissued as of today's date.
During the eight months ended December
31, 2019, the Company included an accrual for mining
concession taxes in Mexico that
should have been reversed and included a value added taxes ("IVA")
receivable relating to the settlement agreement with the mining
contractor in Mexico that should
also have been reversed. The net effect of reversing the accrual
and the IVA receivable resulted in an increase in net income and
working capital of $923,993.
The Company has filed the Restated Documents on SEDAR today,
which are available under the Company's profile at www.sedar.com.
The Restated Documents will replace and supersede the respective
previously-filed financial statements and management's discussion
and analysis for such period (collectively, the "Previous
Documents"). The Previous Documents should no longer be relied
upon.
On behalf of the Board,
Akiba
Leisman
Chief Executive Officer
About Mako
Mako Mining Corp. is a publicly listed gold mining, development
and exploration firm. The Company is developing its high-grade San
Albino gold project in Nueva
Segovia, Nicaragua. Mako's
primary objective is to bring San Albino into production quickly
and efficiently, while continuing exploration of prospective
targets in Nicaragua.
Forward-Looking Statements: Some of the
statements contained herein may be considered "forward-looking
information" within the meaning of applicable securities laws, such
as the Company's objective to bring San Albino into production
quickly and efficiently while continuing to explore prospective
targets in Nicaragua. Although
Mako believes that the expectations reflected in its
forward-looking information are reasonable, such information has
been based on factors and assumptions concerning future events that
may prove to be inaccurate. These factors and assumptions are based
upon currently available information to Mako. Such information is
subject to known and unknown risks, uncertainties and other factors
that could influence actual results or events and cause actual
results or events to differ materially from those stated,
anticipated or implied in the forward-looking information. A number
of important factors including those set forth in other public
filings could cause actual outcomes and results to differ
materially from those expressed in these forward-looking
statements. Readers are cautioned to not place undue reliance on
forward-looking statements. The statements in this press release
are made as of the date of this release and, except as required by
applicable law, Mako does not undertake any obligation to publicly
update or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required under 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.
