MAGE 8-K
MAGELLAN COPPER & GOLD Corp (MAGE)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 4, 2020
MAGELLAN
GOLD CORPORATION
(Exact Name of Registrant as Specified in its Charter)
| Nevada | _333-174287 | 27-3566922 |
| (State or other jurisdiction of incorporation) |
Commission File Number |
(I.R.S. Employer Identification number) |
2010A Harbison Dr., #312, Vacaville,
CA 95687
(Address of principal executive offices) (Zip
Code)
Registrant's telephone number, including area code: 707-291-6198
______________________________________________________
(Former name or former address, if changed since last report)
| ___ | Written communications pursuant to Rule 425 under the Securities Act |
| ___ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
| ___ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
| ___ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each Class | Trading Symbol | Name of each exchange on which registered |
| N/A | N/A | N/A |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company [X]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [_]
| ITEM 7.01 | REGULATION FD DISCLOSURE |
On August 4, 2020, Magellan Gold Corporation, a Nevada corporation (the “Company”) issued a press release announcing the appointment of Michael Lavigne as President and Director effective August 1, 2020. In addition to Mr. Lavigne, Gregory Schifrin was also appointed as Director, following the Company’s acquisition of Clearwater Gold Mining Corporation announced in July 2020. A copy of the Press Release is filed herewith as Exhibit 99.1.
The information in this Current Report on Form 8-K furnished pursuant to Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section, and they shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. By filing this Current Report on Form 8-K and furnishing this information pursuant to Item 7.01, the Company makes no admission as to the materiality of any information in this Current Report on Form 8-K, including Exhibit 99.1, that is required to be disclosed solely by Regulation FD.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
| Item | Title | |
|
99.1 |
| |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Magellan Gold Corporation | |
| Date: August 4, 2020 |
By: /s/ John Power Chief Financial Officer |
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Exhibit 99.1
Magellan Gold Appoints Mining Industry Veteran Michael Lavigne as President and Director
Gregory Schifrin joins the Company’s Board of Directors on the heels of recent acquisition of Clearwater Gold Mining Corporation
Wallace, Idaho – August 04, 2020 – Magellan Gold Corporation (OTCQB: MAGE) (“Magellan” or the “Company”), a precious metals exploration and development company, today announced the appointment of Michael Lavigne as President and Director effective August 1, 2020. In addition to Mr. Lavigne, Gregory Schifrin was also appointed as Director, following the Company’s acquisition of Clearwater Gold Mining Corporation announced in July 2020.
Mr. Lavigne has been involved in the mining industry since 1975, when he worked underground for Helca Mining Company. After completing law school, Mr. Lavigne started a registered broker-dealer specializing in mining and resource companies. He was a member and on the board of directors for the Spokane Stock Exchange and was involved in a number of financings for exploration-stage companies. Mr. Lavigne has served in management and board positions for a number of exploration companies with projects in Idaho, Montana, Nevada, Utah, Wyoming and Alaska. Additionally, Mr. Lavigne is owner and Managing Partner of Capital Peak Partners, LLC, which provides consulting services in the area of corporate and business development to a number of mining companies. Mr. Lavigne received his BA in Accounting from the University of Idaho and JD from the Gonzaga University School of Law.
Mr. Schifrin has worked as a geologist and manager for over 36 years in the mining and mineral exploration industry, where he has been involved in precious base metals, rare earth and uranium exploration and project development. He has provided technical and project management services for hundreds of mining projects of major and junior mining companies, from grassroots through the drilling and development phases. Mr. Schifrin has served as an executive or director at various mining companies, including Idaho Champion Gold Mines USA, Inc. (CSE: ITKO), Blackrock Gold Corp. (TSXV: BRC), WestMountain Gold, Inc., Silver Verde May, Cyclone Uranium Corp., U.S. Rare Earth, Inc., and Golden Eagle Mining. During his various tenures, he managed a broad range of functions including geologic evaluation, project development, infrastructure construction, mining, operations, production, project generation, land acquisition, as well as corporate finance, budgets, accounting, legal and regulatory, investors, and personnel. Mr. Schifrin earned a Bachelor of Science degree in Geology from the University of Idaho in 1983. He is a registered professional geologist in Washington State.
“We are extremely pleased with the additions of Mr. Lavigne and Mr. Schifrin, two highly respected mining industry veterans with deep management and operational experience,” stated John Power, Interim President of Magellan Gold. “With their extensive background in leading exploration and development companies, I am confident that they can advance our new focus to acquire and develop early-to-mid-stage exploration targets and near-term production plays in the western United States, which began with the acquisition of mining claims in the historic Center Star Gold Mine located in the Elk City mining district of Idaho.”
“I look forward to joining the Magellan Gold team and helping to execute its strategy in mining-friendly jurisdictions, especially Idaho and Nevada,” said Mr. Lavigne. “In addition to our Center Star Gold Mine, we will identify and pursue smaller-scale high-grade gold occurrences that have largely been ignored by larger companies looking for near-surface bulk tonnage targets. These projects have historically provided very attractive rates of return for shareholders.”
“With insight from over three decades of experience in all phases of mining, I strongly believe in the value proposition of smaller operations and gold deposits that larger mining companies often overlook,” commented Mr. Schifrin. “I believe my extensive industry experience will be helpful in guiding and taking Magellan Gold to the next level of growth as a gold producer.”
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About Magellan Gold Corporation
Magellan Gold Corporation (OTCQB: MAGE) is focused on the exploration and development of precious metals in North America. Magellan’s flagship project is the Center Star Gold Mine located in the historic Ten Mile mining district near Elk City, Idaho. We are additionally working to build a collection of operating gold mines in the Western United States. Our goal going forward will be to resume production and expand our resource base to achieve greater market recognition for the benefit of our shareholders.
To learn more about Magellan Gold Corporation, visit www.magellangoldcorp.com.
Cautionary Statement
The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can legally extract or produce. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves. Currently we have not delineated “reserves” on any of our properties. We cannot be certain that any deposits at our properties will ever be confirmed or converted into SEC Industry Guide 7 compliant “reserves.” Investors are cautioned not to assume that all or any part of any “resource” estimates will ever be confirmed or converted into reserves or that they can be economically or legally extracted.
Forward-Looking Statements
This release contains “forward-looking statements.” Such statements are based on good-faith assumptions that Magellan Gold Corporation believes are reasonable but which are subject to a wide range of uncertainties and business risks that could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Factors that could cause actual results to differ from those anticipated are discussed in Magellan Gold Corporation’s periodic filings with the Securities and Exchange Commission.
Investor Contact:
Magellan Gold Corporation
888-237-2881
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