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Margaux Resources Announces Non-Brokered Private Placement of Flow-Through Shares and Units
Calgary, Alberta--(Newsfile Corp. - September 20, 2018) - Margaux Resources Ltd. (TSXV: MRL) (...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Margaux Resources Announces Non-Brokered Private Placement of Flow-Through Shares and UnitsCalgary, Alberta--(Newsfile Corp. - September 20, 2018) - Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) (\"Margaux\" or the \"Company\") is pleased to announce that subject to TSX Venture Exchange approval, it intends to issue, pursuant to a non-brokered private placement, up to:4,375,000 units (\"Units\") of the Company at a price of $0.08 per Unit; and 5,000,000 common shares (\"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 up to $850,000 (the \"Offering\").Each Unit will consist of one Common Share and one Common Share purchase warrant (\"Warrant\"). Each Warrant will entitle 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.Pursuant to the Offering Margaux will also issue Flow-Through Shares for gross proceeds of up to $500,000. Closing of the Offering is expected to occur on or before November 4, 2018. \"Margaux plans to use the funds raised to further our exploration drilling, enabling us to continue testing gold targets on the Sheep Creek Gold District, as well as to complete geological mapping and other preparatory studies on the Kootenay Arc Zinc District,\" commented Company President and CEO, Tyler Rice. Proceeds of the Offering will be used to pursue the Company's ongoing exploration and drilling programs and for general working capital. 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.About Margaux Resources Ltd.Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the development of gold, zinc and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is direc...