Morgan Resources Corp. Announces Private Placement
28.05.2015 | Newsfile
Toronto, May 28, 2015 - Morgan Resources Corp. (TSXV: MOR) ("Morgan Resources" or the "Company") announces the Company has closed a non-brokered private placement through the issuance of 600,000 units at a price of $0.15 per unit for gross proceeds of $90,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.25 per share until May 29, 2017.The Financing is subject to final approval from the TSX Venture Exchange. All common shares issued will be subject to a four-month hold period expiring on September 29, 2015. The proceeds of the financing are to be used to fund the Company's ongoing exploration programs and for general working capital.
The private placement was subscribed by one investor who was formerly on the Board of Directors of the Company. There are no commissions or fees payable on the financing.
About Morgan Resources
Morgan Resources, through its wholly owned subsidiary, Bathurst Resources, is a junior mining exploration company with an option on 191 claims located on 4,202 hectares on volcanic-hosted massive sulphides ("VMS") properties in Gloucester County, Northern New Brunswick, which is situated in the Bathurst Mining Camp. The Bathurst Mining Camp refers to a 70 x 60 km area of northeastern New Brunswick which is one of Canada's most prolific base metal mining districts. The geology of the area has been extensively studied primarily by means of detailed exploration data obtained from many of the 46 known VMS deposits that have been documented within the Bathurst Mining Camp. A technical report filed on SEDAR on November 25, 2013 in accordance National Instrument 43-101 with respect to the properties was prepared by Sears, Barry & Associates Limited and is available on www.sedar.com.
Neither 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.
For further information please contact:
Raniero Corsini, Chief Executive Officer
Morgan Resources Corp.
Email: rcorsini@morganresources.ca
Tel: 647 352-4905