Mexican Gold Corp. Provides Update on Financing

About this update from Mexican Gold Mining Corp.

[{"type":"text","content":" THUNDER BAY, Ontario, Nov. 22, 2018 (GLOBE NEWSWIRE) -- NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES MEXICAN GOLD CORP. (TSX-V: MEX; OTCQB: MEXGF; FRA: 4QW1) (\"Mexican Gold\" or the \"Company\") is pleased to announce that it has closed Tranche One (the “First 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\") as announced in the Company’s October 22, 2018 and November 1, 2018 News Releases.  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 “Acceleration Option”). The First Tranche consists of the sale of 10,315,000 Units for gross proceeds of $2,063,000.00. In connection with the closing of the First Tranche, the Company has paid to certain eligible finders $76,510 in cash fees in the aggregate and issued a total of 356,300 compensation warrants in compensation for finders’ efforts in connection with the First Tranche. The compensation warrants are exercisable into Common Shares at $0.30 per Common Share for thirty-six months following the issuance of the compensation warrants, subject to the Company’s Acceleration Option. The Company aims to close a subsequent tranche of the Private Placement in the coming weeks. 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, and for general working capital purposes. Securities issued pursuant to the First Tranche are subject to a four month and...

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