MEXICAN GOLD CORP PROVIDES UPDATE ON FINANCING

nr-2018-11-22

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”).

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