VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 21, 2016) –
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Corex Gold Corp. (“Corex” or the “Company”) (TSX VENTURE:CGE), announces that it has closed the previously announced equity financing and has issued 25,300,000 common shares (“Shares“) of the Company (the “Alamos Shares“) to Alamos Gold Inc. at a price of $0.10 per Share. The Company has also issued an aggregate of 3,000,000 Shares (the “Management Shares“) to certain members of management of the Company or their affiliates (“Management”) and has issued 6,105,831 Shares to H. Morgan & Company (“HMC“), all at a price of $0.10 per Share.
As a result of these transactions, Alamos owns approximately 19.07% of the issued and outstanding shares of the Company; HMC owns approximately 17.75% of the issued and outstanding shares of the Company; and Management owns, in the aggregate, 8% of the issued and outstanding shares of the Company.