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Margaux Resources Announces Closing of Non-Brokered Private Placement of Units and Flow-Through Units and Amendment to Bayonne and Sheep Creek Option Agreement
Calgary, Alberta--(Newsfile Corp. - July 13, 2020) - Margaux Resources Ltd. (TSXV: MRL) (OTC...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Margaux Resources Announces Closing of Non-Brokered Private Placement of Units and Flow-Through Units and Amendment to Bayonne and Sheep Creek Option AgreementCalgary, Alberta--(Newsfile Corp. - July 13, 2020) - Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) (\"Margaux\" or the \"Company\") is pleased to announce that further to its press release dated June 19, 2020 and June 24, 2020, and subject to receiving final regulatory approvals, it has closed its non-brokered private placement (the \"Offering\") by issuing:49,999,993 units (\"Units\") of the Company at a price of $0.07; and11,111,109 flow-through units (\"Flow-Through Units\") at a price of $0.09 per Flow-Through Unit.Gross proceeds raised under Offering are $4.5 Million.\"We are very pleased with the overwhelming interest from investors and to be able to drill at our flagship Cassiar Gold property. Our 2020 exploration program is scheduled to begin in early August, and we are very excited with the potential to expand and explore the known mineralization at the Taurus Deposit\" said Marco Roque, CEO of Margaux.\"Our team has worked hard to advance the Cassiar Project on the technical front in preparation for drilling, and we look forward to delivering a safe and successful program,\" said Kaesy Gladwin, Margaux's VP Exploration.The proceeds from this financing will be used to initiate the next phase of drilling at the Cassiar Gold Project, and for general working capital purposes.Each Unit consists of one common share (\"Common Share\") in the capital of the Company and one Common Share purchase warrant (\"Warrant\"). Each Flow-Through Unit consists of one common share issued on a \"CEE flow-through\" basis pursuant to the Income tax Act (Canada) (\"CEE Share\") and one flow-through Warrant (\"FT Warrant\"). Each Warrant will entitle the holder to acquire one Common Share (each, a \"Warrant Share\") of the Corporation at a price of CAD$0.12 per Warrant Share, and each FT Warrant will entitled the holder to acquire one Common Share (each, a \"FT Warrant Share\") at a price of CAD$0.14 per FT Warrant Share, exercisable for 24 months from the date of closing at 4:30pm (Mountain Standard Time) (\"Expiry Time\"), subject to acceleration by the Corporation, if the 20-day volume weighted average price of the Common Shares on the TSXV exceeds $0.20 per Common Share.In connect...