MGX Minerals Announces Subscriptions for $1.8 Million On Expiry of Rights Offering

VANCOUVER, Sept. 21, 2016 /PRNewswire/ – MGX Minerals (CSE:XMG) announces the expiry of its previously announced rights offering. All unexercised rights expired at 2:00 p.m. (Vancouver time) onSeptember 16, 2016 (the “Expiry Time“) and are void and of no value. Details of the rights offering are set out in the rights offering notice dated July 28, 2016, and the rights offering circular dated July 28, 2016, which are available under the Company’s profile at www.sedar.com.
Closing of the rights offering is expected to be completed at 10:00 a.m. (Vancouver time) on September 21, 2016. After issue of the Units under the rights offering, the Company will have 51,815,745 common shares issued and outstanding. The net proceeds of the offering available to the Company will be $1,657,200, which will be allocated to the development of the Company’s lithium properties and Driftwood Creek property and for general working capital purposes.
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