VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 14, 2016) - On December 12, 2016, Ronald Lang (the "Offeree"), a significant shareholder, director, President, and Chief Executive Officer of Agave Silver Corp. (the "Company"), transferred ownership of 4,000,000 common shares of the Company (the "Shares"). The 4,000,000 Shares transferred by the Offeree represent approximately 10.4% of the issued and outstanding common shares of the Company on an undiluted basis.
After giving effect to the transfer of the Shares, the Offeree owns or controls 12,766,603 Shares of the Company, representing 33.2% of the issued and outstanding Shares of the Company. The Offeree also holds Options and Warrants entitling the Offeree to acquire an additional 5,310,000 Shares, which collectively represents approximately 47% of the issued and outstanding Shares of the Company, calculated on a partially-diluted basis assuming the exercise of all Options and Warrants held by the Offeree.
The Offeree gifted the Shares directly, without cost or expectation of returns. The Offeree may increase or decrease his holdings in the Company in the future if he considers such increase or decrease to be warranted, but has no intention to acquire or transfer ownership of, or control over, additional securities of the Company at this time.
As prescribed by applicable securities legislation, the Offeree has filed a report via SEDAR with securities regulators detailing the above transaction. A copy of the report may be obtained directly from www.sedar.ca or may be requested via telephone from Mr. Lang at 604-588-3908.
/s/ Ron Lang
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.