Margaux Resources Ltd. Closes Shares for Debt Transaction
CALGARY, ALBERTA--(Marketwired - July 2, 2015) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.
Margaux Resources Ltd. ("Margaux") (TSX VENTURE:MRL) announces that its previously announced shares for debt application has been approved by the TSX Venture Exchange and an aggregate of 1,978,350 shares of Margaux at a deemed price of $0.20 per share have been issued to certain of Margaux's creditors. With the issuance of the shares pursuant to the shares for debt application, the debts owing to such creditors, in the amount of $395,670, have been fully extinguished.
The shares issued pursuant to this transaction will be subject to a hold period of 4 months and one day from the date of issuance.
About Margaux Resources Ltd.: Margaux is a publicly traded mineral exploration company based in Calgary, Alberta. The Corporation has an option on the previously producing Jersey Emerald tungsten-zinc mine, located in southeastern British Columbia.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact
Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590
Tyler@margauxresources.com