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Minaurum Closes $4,200,000 Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2020) - Minaurum Gold Inc.  (TSXV:...
About this update from Minaurum Silver Inc.
[{"type":"text","content":"Minaurum Closes $4,200,000 Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - June 9, 2020) - Minaurum Gold Inc. (TSXV: MGG) (\"Minaurum\" or the \"Company\") is pleased to announce the closing of its previously announced non-brokered private placement (the \"Private Placement\"). A total of 10,525,000 units (the \"Units\") were sold at a price of $0.40 per Unit, for gross proceeds of $4,210,000 to primarily Sprott Global Resource Investments, Ltd. (\"Sprott\") and existing shareholders.Each Unit consists of one common share of the Company (each, a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant is exercisable to acquire an additional Common Share at an exercise price of $0.60 for a period of 24 months following the closing of the Private Placement. The Company intends to use the proceeds from the Private Placement for exploration of the Alamos Silver Project and general working capital purposes. All securities issued and issuable under the Private Placement are subject to a four-month hold period from the date of closing of the Private Placement, in addition to any other restrictions under applicable law.As consideration for their services in connection with the Private Placement, Sprott received cash commission in the amount of $178,200 and an aggregate of 445,500 broker warrants (the \"Broker Warrants\"). Each Broker Warrant is exercisable at a price of $0.40 for a period of 24 months following the closing of the Private Placement, subject to adjustment in certain circumstances.Closing of the Private Placement is subject to all necessary regulatory approvals including acceptance from the TSX Venture Exchange (the \"Exchange\"). Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) is a Mexico-focused explorer concentrating on the high-grade Alamos Silver Project in southern Sonora. With a property portfolio encompassing multiple additional district-scale projects, Minaurum is managed by one of the strongest technical and finance teams in Mexico. Minaurum's goal is to continue its founders' legacy of creating shareholder value by making district-scale mineral discoveries and executing accretive mining transactions. For more information, please visit our website at www.minaurum.com and our YouTube Minaurum Video Channel....