- Fully Funded to execute its entire 2016 work programs
MX Gold Corp. (TSX-V: MXL) (FSE: ODV) (OTCQX: DTVMF) is please to announce that, further to its news releases dated May 27th and June 3rd, it closed a private placement and raised gross proceeds of $4,000,000 on June 22, 2016. On the closing date, MX Gold issued 33,333,333 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 $0.20 for a period of four years subject to an acceleration provision of MX Gold whereby, in the event that MX Gold’s common shares trade above $0.50 on the TSX Venture Exchange for a period of fifteen consecutive trading days, the warrants will terminate on the date that is 30 days following receipt of a call notice in the event the holder has not exercised the warrants by such date.
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, BC. In 2015, MX Gold Corp completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. The Willa mine is located 135 kilometers south of the Max Mill Project site.
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Forward Looking Statements
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