5.2 million units of a share and one warrant sold at C$0.25 per unit
By Devika Patel
Knoxville, Tenn., Aug. 9 – MX Gold Corp. said it increased its private placement of units to C$1.3 million from C$1 million. The deal priced on Aug. 5.
The company will now sell 5.2 million units of one common share and one warrant at C$0.25 per unit.
Each warrant is exercisable at C$0.75 for three years. The strike price is a 212.5% premium to the Aug. 4 closing share price of C$0.24.
Proceeds will be used to advance the WillaMAX project and for general working capital.
The gold, silver and copper mining company is based in Vancouver, B.C.
| Issuer: | MX Gold Corp.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$1 million
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| Units: | 5.2 million
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| Price: | C$0.25
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.75
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| Pricing date: | Aug. 5
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| Upsized: | Aug. 9
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| Stock symbol: | TSX Venture: MXL
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| Stock price: | C$0.24 at close Aug. 4
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| Market capitalization: | C$28.01 million
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