Magna Gold Corp. Announces Closing of Fully Subscribed Private Placement of Common Shares

Magna Gold

TORONTO, June 02, 2020 (GLOBE NEWSWIRE) — Magna Gold Corp. (TSXV: MGR, OTCQB: MGLQF) (“Magna” or the “Company“) is pleased to announce that it has closed its previously announced non-brokered private placement of 17,075,000 common shares in the capital of the Company (the “Offered Shares“) at a price of $0.41 per Offered Share for aggregate gross proceeds of $7,000,750 (the “Private Placement“). The Private Placement was fully subscribed and included lead investments by Eric Sprott and two mining industry participants.

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