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News

Javier Reyes

Vancouver, British Columbia – September 22, 2017 – Javier Reyes announces that he has acquired 6,989,247 common shares of Candelaria Mining Corp. (the “Company”) at a price of $0.465 per share and 3,494,623 share purchase warrants exercisable at $0.75 per share until February 18, 2018. Mr. Reyes acquired the common shares and warrants pursuant to the conversion of a convertible note in the amount of $3,250,000 held through Credipresto SA de CV SOFOM ENR (“Credipresto”), a company controlled by Mr. Reyes.

Immediately prior to the foregoing acquisition, Mr. Reyes held 15,881,220 common shares of the Company representing approximately 15.62% of the issued and outstanding shares of the Company on an undiluted basis, of which 14,788,888 common shares are owned by Credipresto, and 1,092,332 common shares are owned by Antares Capital Fund, Ltd., a company controlled by Mr. Reyes.

As a result of the foregoing acquisition, Mr. Reyes owns and/or controls a total of 22,870,467 common shares of the Company representing 21.05% of the issued and outstanding shares on a partially diluted basis, assuming no further common shares of the Company have been issued.

Mr. Reyes also holds warrants exercisable into up to 4,494,623 common shares of the Company,

$625,000 worth of unsecured convertible debentures convertible into up to 2,083,333 common shares of the Company at a price of $0.30 per share until December 6, 2017, and 1,083,334 stock options. If Mr. Reyes were to exercise all of his warrants, convert all his convertible debentures and exercise all of his stock options, he would then control a total of 30,531,757 common shares of the Company representing approximately 26.25% of the issued and outstanding common shares of the Company on a partially diluted basis assuming that no other common shares of the Company have been issued.

The proceeds raised will be used by the Company for general working capital.

The securities acquired will be held for investment purposes. Mr. Reyes may, depending on market and other conditions, increase or decrease its beneficial ownership of the Company’s securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

This press release is issued pursuant to Multilateral Instrument 62-104 and a report respecting the above acquisition will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing at www.sedar.com.

Javier Reyes
Av San Jeronimo 595-401
Mexico City, 01090
Tel: +5215585349323

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