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Margaux Resources Announces Closing of Second Tranche of Non-Brokered Private Placement Offering and Granting of Stock Options
(via TheNewswire) Calgary, Alberta / TheNewswire / November 24, 2016 - Margau...
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[{"type":"text","content":"Margaux Resources Announces Closing of Second Tranche of Non-Brokered Private Placement Offering and Granting of Stock Options(via TheNewswire)\n \n \nCalgary, Alberta / TheNewswire / November 24, 2016 - Margaux Resources Ltd. (TSX VENTURE: MRL) (Margaux or the Company) is pleased to announce that, further to its press releases dated October 11, 2016 and October 21, 2016, it has closed the second tranche of its non-brokered private placement (the Offering) by issuing:\n\n\n \n\n\n\n \n-2,128,000 units (Units) of the Company at a price of $0.25 per Unit for aggregate gross proceeds of $532,000; and\n\n\n \n-1,122,582 common shares (Common Shares) of the Company issued on a CEE flow-though basis pursuant to the Income Tax Act (Canada) (Flow-Through Shares) at a price of $0.31 per Flow-Through Share for aggregate gross proceeds of approximately $348,000.\n\n \n \nEach Unit consists of one Common Share and one Common Share purchase warrant (Warrant). Each whole Warrant will expire 24 months from the closing date of the Offering, and will entitle the holder to acquire one Common Share at a price of $0.30 per Common Share. Total proceeds raised under the Offering were approximately $2,044,000. \n\n \n \nProceeds of the Offering will be used to pursue the Company's ongoing exploration and drilling programs at its Jersey-Emerald zinc-tungsten-gold project in Salmo, British Columbia. \n\n \n \nThe securities issued pursuant to the Offering are subject to a four month hold period under applicable securities laws. The Company has agreed to pay a finder's fee on certain subscriptions under the Offerings in the amount of 6% cash on the proceeds received from certain subscribers and 6% finder's warrants.\n\n \n \nIn addition, Margaux wishes to announce that it has granted 475,000 Common Share purchase options to certain employees, consultants and the Company's VP Exploration in accordance with the Company's shareholder approved stock option plan. The stock options are exercisable at a price of $0.25 per share and expire in five years. The options will vest over a period of three years, with 1/3 of the Options vesting immediately, and 1/3 vesting at the end of each the first and second anniversary of the date of grant.\n\n \n \nAbout Margaux Resources Ltd.: Margaux is a publicly traded mineral exploration company focused on the exploration and...