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Almadex Minerals Announces Closing of $5.6 Million Non-Brokered Private Placement
VANCOUVER, B.C. , March 27, 2018 (GLOBE NEWSWIRE) -- Almadex Minerals Limited (“Almadex” or the “Company”) (TSX-V:AMZ) (OTCQB:AXDDF) is pleased to announce that
About this update from Mustang Minerals Limited
[{"type":"text","content":"VANCOUVER, B.C. , March 27, 2018 (GLOBE NEWSWIRE) -- Almadex Minerals Limited (“Almadex” or the “Company”) (TSX-V:AMZ) (OTCQB:AXDDF) is pleased to announce that it has closed its previously announced non-brokered private placement with the issuance of 4,000,000 units (“Units”) at $1.40 per Unit. Each Unit consists of one common share of the Company and one-half of one non-transferable common share purchase warrant (each such whole share purchase warrant, a “Warrant”). Each Warrant allows the holder to purchase one common share of the Company at a price of $2.00 per share until March 27, 2020. Fees consisting of $255,555.20 in cash were paid to arms-length finders or advisors on a portion of the placement. All securities issued in connection with the private placement are subject to a hold period in Canada which expires on July 28, 2018. Almadex intends to use the proceeds of the private placement to continue drilling targets at its 100% owned El Cobre gold/copper porphyry project in Veracruz, Mexico, and for general working capital purposes. About Almadex Almadex Minerals Limited is an exploration company that holds a large mineral portfolio consisting of projects and NSR royalties in Canada, the U.S. and Mexico. This portfolio is the direct result of over 35 years of prospecting and deal-making by Almadex and, prior to its spinout, by Almaden Minerals Ltd. Almadex is currently focused on exploration at its El Cobre gold/copper porphyry project in Veracruz, Mexico, in which it holds a 100% interest, subject to a sliding-scale net smelter returns royalty (“NSR”) equivalent to 0.5% in the event that production from the property exceeds 10,001 tonnes per day of ore. This NSR can be reduced to 0.25% at this production rate through the payment of US$3 million. On behalf of the Board of Directors, “Morgan Poliquin” Morgan J. Poliquin, Ph.D., P.Eng. President, CEO and Director Almadex Minerals Limited Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contact Information: Almadex Minerals LimitedTel. [email protected]://www.almadexminerals.com/ THIS NEWS RELEASE IS A MATTER OF RECORD ONLY, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIE...