Business
Mexican Gold Corp Provides Update on Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES THUNDER BAY, Ontario, Dec. 21, 2018 (GLOBE NEWSWIRE) -- MEXICA
About this update from Mexican Gold Mining Corp.
[{"type":"text","content":" NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES THUNDER BAY, Ontario, Dec. 21, 2018 (GLOBE NEWSWIRE) -- MEXICAN GOLD CORP. (TSX-V: MEX; OTCQB: MEXGF; FRA: 4QW1) (\"Mexican Gold\" or the \"Company\") is pleased to provide an update on the second tranche of the previously announced non-brokered private placement of units in the Company (“Units”) at $0.20 per Unit for gross proceeds of up to $3,000,000, subject to the Company’s option to increase the size of the private placement by 25% (the \"Private Placement\") (see October 22, 2018, November 1, 2018 and November 22, 2019 news releases of the Company). Each Unit offered under the Private Placement consists of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant is exercisable into a Common Share at the price of $0.30 per Common Share for a period of thirty-six months, subject to the Company’s option to accelerate the expiry date of the Warrants on notice to the holders of the Warrants, if at any time after four months and one day from the closing date of the Private Placement, the closing price of its Common Shares on a stock exchange in Canada is greater than $0.45 per Common Share for a period of 20 consecutive trading days. The Company has closed the first tranche of the Private Placement for gross proceeds of $2,063,000 on November 22, 2018 and is aiming to close the second tranche of the Private Placement in the first weeks of January 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, to make the final property payment (done), and for general working capital purposes. Securities issued pursuant to the Private Placement will be subject to a four month and one day statutory hold period. As at the date hereof there is no material fact or material change related to the Company that has not been generally disclosed. The Private Placement is subject to the final approval of the TSX Venture Exchange. About Mexican Gold Corp. Mexican Gold Corp. is a Canadian based mineral exploration company committed to building long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals ...