VANCOUVER, British Columbia, Sept. 29, 2017 (GLOBE NEWSWIRE) — MX Gold Corp. (TSX-V:MXL) (FSE:0DV) (OTCQX:MXLGF) (the “Company” or “MX Gold”) is pleased to announce that the Company has closed a non-brokered private placement. The Private Placement is subject to TSX Venture Exchange approval.
The Company completed the sale of 40 Million units (“Unit”) at a purchase price of C$0.10 per unit for gross proceeds of C$4 Million. Each Unit is comprised of one common share in the capital of the Issuer (each, a “Share”) and one transferable common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share (each, a “Warrant Share”) at a price of $0.20 per Warrant Share until 5:00 p.m. (Vancouver time) on the date of expiration of the Warrant, which is five (5) years following the Closing Date.