Mako Mining Acquires Debt and Eyes Nasdaq Listing

Mako Mining Corp. has acquired US$49.5 million in debt at a cost of US$1.8 million from Elevation Gold Mining Corporation. This strategic acquisition was made from Maverix Metals Inc., a subsidiary of Triple Flag Precious Metals Corp., the secured creditor in Elevation's creditor proceedings. Mako now steps in as the principal secured creditor, potentially gaining distributions via this debt acquisition.

In addition to this, Mako is involved in litigation with remaining royalty holders over the Moss gold mine. CEO Akiba Leisman views this debt purchase as a tactical investment. Furthermore, Mako plans to apply for a listing on the Nasdaq, aiming for broader investor access and improved trading liquidity.

The company announces board changes, with John Pontius stepping down and Asheef Lalani joining the board. Mako also approved 6,500 restricted share units for Chairman Eric Fier, issued with a one-year restriction period.