First Mexican Closes Financing
VANCOUVER, British Columbia, Sept. 16, 2015 (GLOBE NEWSWIRE) -- First Mexican Gold Corp. (the 'Company' or 'FMG') (TSX-V:FMG) (Frankfurt:21M).
First Mexican Gold Corp. (FMG) has received TSX Venture Exchange approval and closed a second and final tranche of $244,700 from the best efforts non-brokered $350,000 financing announced in May 26, 2015 press release, at $0.03 cents per unit, with each unit consisting of one common share and one transferable share purchase warrant being exercisable until September 16, 2017, and subject to a four month and one day hold period expiring January 17, 2016. No finders' fees are payable.
Use of proceeds will be contingent on the gross amount of funds raised but various commitments have already been made: $40,000 to audit; $42,000 to property taxes; $35,000 to legal; $10,000 concession holder payments; $20,000 regulatory; $20,000 travel expenses; $23,000 administration; $30,000 consulting; $30,000 salaries; $100,000 working capital.
Company President & CEO, Jim Voisin, stated, "I believe we have a valuable asset waiting to be exploited, and all efforts possible to fund this project are being pursued in the best interests of shareholders."
First Mexican Gold Corp. is an active explorer for precious metals in Mexico and controls a 100% interest in the Guadalupe property package with the intention of becoming an active producer.
On behalf of the Board of Directors,
Jim Voisin
President & CEO
First Mexican Gold Corp.
519 699 5352
Vancouver Head Office
#1000, 355 Burrard Street Vancouver, B.C. V6C 2G8 Canada
Phone: 604 681 7265
Website: www.fmgoldcorp.com
We seek safe harbour.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the Guadalupe property and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.