VANCOUVER, British Columbia, Aug. 12, 2016 (GLOBE NEWSWIRE) — MX Gold Corp. (TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF) (the “Company” or “MX Gold”) is pleased to announce that, further to its news releases dated August 5th and August 9th, it closed a private placement and raised gross proceeds of $1,300,000 on August 12, 2016. On the closing date, MX Gold issued 5,200,000 units, each unit consisting of one common share and one share purchase warrant, which entitles the holder to purchase one additional common share at a price of $0.75 for a period of three years.
In connection with the closing of the financing, MX Gold paid cash finder’s fees of $7,650 and issued 30,600 finder’s warrants which had the same terms as warrants issued in the financing. All securities issued in connection with the financing are subject to a statutory hold period expiring on December 13, 2016.
None of the securities issued in connection with the financing will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there by any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About MX Gold
MX Gold Corp. is a junior mining company focused on the mining, exploration and development of advanced projects located in the Kootenay region of British Columbia. The Company’s primary focus is its high-grade Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. This acquisition removed major costs and shortened timelines typically associated with mine project development with planned ore shipment from Willa to the Max Mill. The Willa mine is located 135 kilometers south of the Max Mill. MX Gold Corp. can also elect to reopen the Max Molybdenum mining operation once world Moly process improve.
On behalf of the Board of Directors,
Akash Patel, Vice President and Director, MX Gold Corp.
For further information, please contact
SkanderBeg Capital Advisors
Ext 104 or Ext 105
Dan Omeniuk, CEO
Toll Free: 1-800-910-7711
Or by email to:
Neither 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.