Business
Mexican Gold Corp. Closes Non-Brokered Private Placement
THUNDER BAY, ONTARIO--(Marketwired - May 25, 2017) - MEXICAN GOLD CORP. ("Mexican Gold" or the "Company") (TSX VENTURE:MEX) is pleased to announce that it has c
About this update from Mexican Gold Mining Corp.
[{"type":"text","content":"THUNDER BAY, ONTARIO--(Marketwired - May 25, 2017) - MEXICAN GOLD CORP. (\"Mexican Gold\" or the \"Company\") (TSX VENTURE:MEX) is pleased to announce that it has closed its previously announced non-brokered private placement (the \"Private Placement\") consisting of 5,990,270 units of the Company (the \"Units\") at a price of $0.30 per Unit for gross proceeds of $1,797,081. Each Unit consisted of one common share of the Company (a \"Common Share\") and one transferable common share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.45 per Common Share until May 25, 2019. The net proceeds from the Private Placement will be used to continue exploration on the Company's Las Minas Project located in the State of Veracruz, Mexico, and for property payments and general working capital purposes. In connection with the Private Placement, the Company has: (i) paid an aggregate of $22,785 in cash finder's fees to Leede Jones Gable Inc. and Raymond James Ltd., representing 7% of the gross proceeds of the Units that were sold to subscribers introduced by such parties; and (ii) issued an aggregate of 75,950 non-transferable warrants (the \"Finder's Warrants\") to purchase 75,950 Common Shares to Leede Jones Gable Inc. and Raymond James Ltd., representing 7% of the Units that were sold to subscribers introduced by such parties. The Finder's Warrants have the same terms as the Warrants. The securities issued under the Private Placement were offered by way of private placement in certain provinces of Canada, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable Canadian securities laws and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended. The securities issued under the Private Placement are subject to a hold period under applicable Canadian securities laws which will expire on September 26, 2017. The Private Placement is subject to final acceptance of the TSX Venture Exchange. Palisade Global Investments Ltd. (\"Palisade\"), an insider of the Company, subscribed for 1,683,500 Units under the Private Placement on the same terms as arm's length investors. The participation of Palisade in the Private Placement constitutes a...