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Feb. 06, 2015 11:38AM PST
MGX Minerals Inc. (CSE:XMG) has closed the first tranche of its private placement announced October 30 2014. The company issued 508,033 common shares at a price of 25 cents per share to raise gross proceeds of $127,008.25.
As quoted in the press release:
MGX intends to use net proceeds to finance additional work on its flagship Driftwood Creek magnesium deposit and to settle a portion of outstanding debt.
Click here to read the MGX Minerals Inc. (CSE:XMG) press release
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