MGX Minerals brings in C$4.079mln from seocond tranche of private placing

The total amount brought in via the offering was C$7.137mln gross
MGX Minerals brings in C$4.079mln from seocond tranche of private placing
The total amount brought in via the offering was C$7.137mln gross

MGX Minerals Inc (CSE:XMG, OTCQB:MGXMF) says it has raised C$4.079mln after closing the second and final tranche of a previously announced placing

The total amount brought in via the offering was C$7.137mln gross and the funds will be used to advance its Canadian projects and its magnesium and lithium interests, as well as for working capital.

In the latest tranche, the group issued 4.079mln units at C$1.00 each for gross proceeds of C$4.079mln.

Each unit consisted of a company share and one transferable common share purchase warrant, which entitles the holder to acquire one share for C$1.15 for 36 months from closing.

The offering was made concurrently with a private placing of flow through units - of which a second and final tranche is also expected to close this week.

View full XMG profile View Profile

MGX Minerals Timeline

Related Articles

Energy Fuels nudges higher as it outlines opportunities to lift uranium output
March 20 2018
The group is always hunting new sources of alternate feed materials and fee processing arrangements, it said
Picture of drill rig
May 03 2018
The Strickland project covers over 100 strike kilometres of greenstone belts and straddles the Evanston and Yuinmery Shear Zones.
1523390152_MawsonTruck.jpg
April 10 2018
The group kicked off, in January, a 15,000m winter drill program at Rajapalot
Copyright © personabelovo.ru, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated.