Mexican Gold target Alcon receives shareholder approval
Mexican’s shareholder-approved Platauro merger awaits court approval to combine assets and expand its silver portfolio.
Mexican Gold Mining Corp. shareholders approved the arrangement agreement to acquire 100% of Alcon Silver Corp. by a 66.66% majority at the annual general and special meeting on July 3, 2026. The company will apply for a final court order on July 8, 2026, at the Supreme Court of British Columbia. If the final order is granted, the closing of the arrangement is expected on or about July 15, 2026. The transaction includes a 1.6667-to-1 share consolidation and a corporate name change to Platauro Metals Corp. A concurrent $2.25M non-brokered private placement of subscription receipts is funding the acquisition, legal fees, and exploration.
Mexican Gold Mining Corp. (MEX) has secured shareholder approval, a routine procedural step in the court-approved arrangement process originally announced on April 9, 2026. This development confirms management’s execution on the merger timeline but introduces no new strategic, financial, or operational surprises. The market had already priced in the merger terms, including the 1:1 exchange ratio, share consolidation, and name change. While the approval removes a key regulatory hurdle, the transaction remains conditional on the final court order, TSXV listing approval, and successful financing closing.
Mexican Gold Mining Corp. is a precious metals exploration company focused on the Las Minas Project in Veracruz, Mexico. The company recently acquired the Tatatila Project, comprising 3,824 hectares, from Chesapeake Gold Corp. This property surrounds the Las Minas property and contains skarn prospects.
The proposed merger with Alcon Silver Corp. will add the Princesa Project and the Las Minas Project to the portfolio. The Princesa Project holds a historical resource of 4.6 Mt @ 90.88 g/t Ag, 1.66% Pb, 1.69% Zn. The Las Minas Project contains an NI 43-101 resource of 443k AuEq oz Indicated and 361k AuEq oz Inferred. Following the merger, the combined entity will be renamed Platauro Metals Corp.
Exploration on Las Minas has been suspended indefinitely due to an ongoing title dispute and court-ordered land survey.