Mexivada Mining Corp.: Private Placement With the MineralFields Group Closed
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/16/11 -- Mexivada Mining Corp. (TSX VENTURE: MNV)(OTCBB: MXVDF)(FRANKFURT: M2Q) -
The Company is pleased to announce it has closed a private placement for a total of 7,000,000 units, at $0.10 per unit, with the MineralFields Group of Companies to raise gross proceeds of $700,000.
All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units and any shares issued upon exercise of the finder's options, are subject to resale restrictions expiring on April 17, 2012.
The Company intends to use the proceeds from the private placements to conduct exploration activities on its properties in the Timmins-Matheson gold region, Ontario.
The Company is very pleased with its ongoing relationship with the MineralFields Group, said Richard Redfern, President and CEO. The Company looks forward to working with the MineralFields Group as the Company develops its holdings in the Timmins region, in Ontario.
About Mexivada Mining Corp.
Mexivada is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, mining, and joint venturing high-grade Gold-Silver, Tellurium, Diamond, and Rare Metal exploration projects in Mexico, Nevada, Canada, and Africa. Mexivada is managed by experienced and successful board members and advisors. The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified the information herein, and evaluated the interpretations contained in this news release. For further information, please visit our web site at www.mexivada.com or contact us by e-mail at info@mexivada.com.
About MineralFields Group
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Montreal, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. The sector focus is on gold and precious metals, base metals, rare earths and lithium, potash, uranium, oil, coal and gas. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Fund Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities®, and have raised over $1 billion in their 10 year history.
On behalf of the Board of Directors,
Richard R. Redfern, President & CEO
Mexivada Mining Corp.
Caution Concerning Forward-Looking Statements
This news release and related texts and images on Mexivada's website contain certain 'forward-looking statements' that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Mexivada Mining Corp.
Investor Relations
1-604-568-7726 or 1-866-922-6774
775-738-6705 (FAX)
info@mexivada.com
www.mexivada.com
