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Margaux Resources Announces Closing of First Tranche of Non-Brokered Private Placement of Flow-Through Shares and Units
Calgary, Alberta--(Newsfile Corp. - October 16, 2018) - Margaux Resources Ltd. (TSXV: MRL) (OT...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Margaux Resources Announces Closing of First Tranche of Non-Brokered Private Placement of Flow-Through Shares and UnitsCalgary, Alberta--(Newsfile Corp. - October 16, 2018) - Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) (\"Margaux\" or the \"Company\") is pleased to announce that further to its press release dated September 20, 2018, and subject to receiving final regulatory approvals, it has closed the first tranche of its non-brokered private placement (the \"Offering\") by issuing:7,033,100 units (\"Units\") of the Company at a price of $0.08; and2,379,566 common shares of the Company issued on a \"CEE flow-through\" basis pursuant to the Income Tax Act (Canada) (\"Flow-Through Shares\") at a price of $0.10 per Flow-Through Share, for aggregate gross proceeds of $800,605.Each Unit consists of one Common Share and one Common Share purchase warrant (\"Warrant\"). Each Warrant entitles the holder to acquire one Common Share (each a \"Warrant Share\") at an exercise price of $0.15 per Warrant Share until 4:30 pm (Calgary time) on that date that is 24 months from the issuance closing date, (the \"Expiry Time\") subject to accelerated expiry, if the 20-day Volume Weighted Average Price of the Common Shares on the TSX Venture Exchange exceeds $0.20 per share.The securities issued pursuant to the Offering are subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder Warrants. As previously announced, the proceeds of the Offering will be used to pursue the Company's ongoing exploration and drilling programs and for general working capital. About Margaux Resources Ltd.Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) is a mineral acquisition and exploration Company focused on gold and zinc exploration in the Kootenay Arc, in the southeastern region of British Columbia, and directed by a group of highly successful Canadian business executives.Forward Looking StatementsThis press release may contain forward looking statements including those describing Margaux's future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by ...