algary, Alberta--(Newsfile Corp. - November 22, 2023) - Antioquia Gold Inc. (TSXV: AGD) (OTCQX: AGDXF) ("Antioquia Gold" or the "Company") is pleased to announce a summary of its financial results for the third quarter ended September 30, 2023 and that it has applied and has received approval for a voluntary delisting of its common shares in the capital of the Company (the "Common Shares") from the TSXV Venture Exchange ("TSXV"). Accordingly, it is anticipated that, effective as at the close of trading on Friday, December 1, 2023, Antioquia's Common Shares will no longer be listed and posted for the trading on the TSXV. The voluntary delisting is because the Company no longer meets the public distribution requirements of TSXV Policy 2.5. In addition, a majority of the shareholders of the Company approved the voluntary delisting of the Common Shares at the annual and general and special meeting of the shareholders of the Company held on October 11, 2023. The Company will continue as an unlisted reporting issuer under Canadian securities laws.

For the third quarter of 2023, the Company has shown a decrease financial performance in comparison to the previous period for the three months ended September 30, 2023. The Company has continued improvements in mine planning and mining operations, and process plant optimization.

The main operational and financial results for the third quarter 2023 are as follows (1):

Gold production for the third quarter of 2023 was 8,502 ounces compared to 11,254 ounces for the third quarter of 2022 (a 24% decrease).
Total revenues for the third quarter of 2023 were $12.0M compared to $22.4M for the third quarter of 2022 (a 46% decrease).
Adjusted EBITDA (2) for the third quarter of 2023 was $0.6M compared to $3.0M for the third quarter of 2022 (a 77% decrease).
Net loss for the third quarter of 2023 was $7.4M compared to a loss of $2.5M for the second quarter of 2022 (a 197% decrease).

see & read more on https://www.newsfilecorp.com/release/188491/Antioquia-Gold-Announces-Third-Quarter-2023-Financial-Results-and-Voluntary-Delisting-from-the-TSX-Venture-Exchange