The Conversation (0)
MGX Minerals Announces $500,000 Strategic Private Placement for Alberta Lithium Development Financing
Apr. 18, 2016 10:40AM PST
Battery Metals
MGX Minerals (CSE:XMG) announced that it intends to complete a non-brokered private placement for up to 5,000,000 Units at a price of CAD$0.10 per Unit for gross proceeds of CAD$500,000. Each Unit will be comprised of one common share and one common share purchase warrant.
MGX Minerals (CSE:XMG) announced that it intends to complete a non-brokered private placement for up to 5,000,000 Units at a price of CAD$0.10 per Unit for gross proceeds of CAD$500,000. Each Unit will be comprised of one common share and one common share purchase warrant. Each warrant is exercisable into one common share at a price of CAD$0.15 for a period of two years from the closing date of the Private Placement.
Proceeds from the Private Placement will be used for lithium exploration and development, Private Placement expenses, maintenance of MGX’s assets, payment of liabilities, and general working capital requirements.
Connect with MGX Minerals (CSE:XMG) to receive an Investor Presentation.