MGX Minerals Added to CSE Composite Index - Increases Financing
VANCOUVER, BRITISH COLUMBIA / TheNewswire / June 25, 2015 - MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / FKT: 1MG) is pleased to announce the Company has been added to the Canadian Securities Exchange Composite Index ("CSE"). The CSE represents a broad measurement of market activity for securities listed on the Canadian Securities Exchange. For more information on the Index and how it is weighted, please visit the CSE website page.
Private Placement Financing Increased
MGX announces that due to strong investor demand, the Company has increased the size of the previously announced non-brokered private placement (see press release dated June 2, 2015) and will now sell up to 2,000,000 shares at a price of CA$0.30 per share.
Shares Issuance
MGX announces it has issued 300,000 shares to the Vendors as payment for Driftwood Creek Magnesium Project and 41,318 shares to the Vendor as payment for Needles Magnesite Project. In addition, the Company has issued 50,000 shares to settle a $15,000 debt.
About MGX Minerals
MGX Minerals is a diversified Canadian mining company listed on the Canadian Securities Exchange (CSE: XMG). MGX is 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. The Company's flagship project is the Driftwood Creek magnesium project in the East Kootenay region of British Columbia. Development plans include construction of a quarry mine and processing plant to produce magnesium oxide. The Driftwood Creek project is currently under permitting review for granting of a mining lease and applications 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", "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.
Copyright (c) 2015 TheNewswire - All rights reserved.