Mako Mining Corp. and Goldsource Mines Inc. announced that Mako has completed its previously announced acquisition of Goldsource by way of a plan of arrangement, pursuant to which Mako acquired all of the issued and outstanding common shares of Goldsource in exchange for common shares of Mako . As a result of the Transaction, Mako now owns the Eagle Mountain Gold Project in Guyana.

The Goldsource Shares are expected to be delisted from the TSX Venture Exchange . Immediately prior to closing of the Transaction, the Wexford Funds beneficially owned an aggregate of 36,554,323 Mako Shares, representing approximately 56.41% of the then issued and outstanding Mako Shares. Immediately following the Closing, the Wexford Funds benefic partially owned an aggregate of 37,340,823 Mako Shares and the right to purchase an aggregate of 393,250 Mako Shares on exercise of 1,787,500 Goldsource Warrants, representing approximately 48.15% of the then issued and standing Mako Shares (calculated on a partially-diluted basis).

The Mako Shares and the Goldsource Warrants were acquired for investment purposes. The Wexford Funds may from time to time acquire additional securities, dispose of some or all of the existing or additional securities, or continue to hold the securities of Mako. Pursuant to the terms of the investor rights agreement between Wexford and Mako dated November 9, 2018, Mako has consented to the acquisition by Wexford, the Wexford Funds or their affiliates of the Mako Shares and the right To purchase Mako Shares on the exercise of Goldsource Warrants pursuant to the Transaction notwithstanding that the equity ownership of Wexford and its affiliates exceeds the cap set forth in the Investor Rights Agreement.