Sale of 5,357,143 units finances WillaMax project and working capital
By Devika Patel
Knoxville, Tenn., Aug. 23 – MX Gold Corp. announced it will raise C$1.5 million in a private placement of units.
The company will sell 5,357,143 units of one common share and one warrant at C$0.28 per unit. Each warrant will be exercisable at C$0.50 for three years. The strike price reflects a 66.67% premium to the Aug. 22 closing share price of C$0.30.
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.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
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| Units: | 5,357,143
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| Price: | C$0.28
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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$0.50
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| Agent: | Non-brokered
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| Pricing date: | Aug. 23
|
| Stock symbol: | TSX Venture: MXL
|
| Stock price: | C$0.30 at close Aug. 22
|
| Market capitalization: | C$30.01 million
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