MGX Minerals Announces Private Placement
VANCOUVER, BRITISH COLUMBIA / TheNewswire / June 2, 2015 - MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / FKT: 1MG) announces that the Company intends to complete a non-brokered private placement (the "Offering") of up to 1,000,000 shares at a price of CA$0.30 per share, for gross proceeds of up to CA$300,000.
Net proceeds from the Offering will be used for continued permitting of MGX's Driftwood Creek magnesium property as well as general administrative and corporate purposes.
About MGX Minerals
MGX Minerals is a diversified Canadian mining company listed on the Canadian Securities Exchange (CSE: XMG) and engaged in the acquisition and development of industrial mineral deposits in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. MGX is developing the Driftwood Creek magnesium property in the East Kootenay region. The development plan includes construction of a quarry and processing plant for the production of magnesium oxide. The Driftwood Creek project is currently under permitting review for granting of a mining lease and application for associated operating permits are in various stages of preparation. MGX owns the majority of significant magnesite properties in the Province of British Columbia as reported by the British Columbia Geological Service.
For more information please visit the Company's website at www.mgxminerals.com
| Contact Information | |
| Jared Lazerson | Dr. Michael Reimann |
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.
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