MGX Closes Second Tranche of Non-Brokered Private Placement
Vancouver, BC / TheNewswire / February 25, 2015 - MGX Minerals Inc. (the "Company") (CSE:XMG), is pleased to announce that it has closed the second tranche of its private placement announced on October 30, 2014, for 333,333 common shares at a price of $0.25 per share, yielding gross proceeds of $83,333. The proceeds generated from the private placement were used towards the engagement of a business marketing consultant.
The newly issued shares shall be subject to a four month and one day hold period from today's closing date.
There was no finder fees paid in connection with the private placement.
About MGX Minerals
MGX Minerals (CSE: XMG) is a diversified Canadian mining company 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. For more information please visit the Company's website at www.mgxminerals.com.
For further information on MGX, please contact:
Jared Lazerson
Chief Executive Officer
Telephone: 604.681.7735
Email: jared@mgxminerals.com
The CSE has not reviewed, approved or disapproved the content of this press 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", "postulate" 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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