MGX Minerals (CSE:XMG) is pleased to announce that the common shares and warrants qualified by the Company’s final short form prospectus dated August 21, 2017 (“Prospectus”) commenced trading on the Canadian Securities Exchange (the “CSE”) on August 30, 2017 and September 1, 2017, respectively. A total of 6,879,226 common shares and 6,879,226 warrants issuable for no additional consideration upon the deemed exercise of 6,253,842 special warrants of MGX (“Special Warrants”) on August 30, 2017. The Special Warrants were issued in connection with the previously announced private placement offerings (the “Offerings”) which closed on May 12, 2017 and May 31, 2017. The Special Warrants were sold at a price of $0.90 per Special Warrant (the “Issue Price”), for aggregate gross proceeds of approximately $5.6 million.
For more information on the Offerings, please refer to the Prospectus, as well as the Company’s news releases, dated March 1, 2017, May 12, 2017, May 31, 2017, June 16, 2017 and August 25, 2017, available on the Company’s profile on SEDAR at www.sedar.com and at www.mgxminerals.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things: the deemed exercise of the Special Warrants.
Although MGX believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. MGX’s actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements.
The forward-looking statements contained in this news release reflect several material factors, expectations and assumptions of MGX including, without limitation: the general continuation of current or, where applicable, assumed industry conditions; and availability of debt and/or equity sources to fund MGX’s capital and operating requirements as needed.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: general economic, market and business conditions; reliance on industry partners; and certain other risks detailed from time to time in MGX’s public disclosure documents including, without limitation, those risks identified in this news release, and in MGX’s annual information form, copies of which are available on MGX’s SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive.