MGX Minerals Rights Offering to Commence Trading August 10th
VANCOUVER, BRITISH COLUMBIA / TheNewswire / August 9, 2016 / MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / FKT: 1MG) reports that in connection with the previously announced Rights Offering (the "Offering") (see press release dated July 27, 2016), the Rights are set to commence trading on the Canadian Securities Exchange under the ticker symbol XMG.RT beginning at the open of trading on August 10, 2016.
All shareholders of MGX at the close of business on the record date of August 12, 2016 will be entitled to take part in the Offering. The Rights will expire at 2 p.m. Pacific Standard Time (PST) on September 16, 2016 (the "Expiry Time").
The Offering is being conducted on the basis of one Right for each common share of the Company held. Four Rights entitle the holder to purchase one Unit ("Unit") of the Company at a subscription price of CA$0.18 per Unit. Each Unit consists of one common share and one-half of one purchase warrant ("Warrant"), with each whole Warrant exercisable into one common share of the Company at a price of CA$0.20 for a period of 24 months from the issuance date.
Shareholders who fully exercise their Rights will be entitled to subscribe for additional Units, if available as a result of unexercised Rights prior to the Expiry Time, subject to certain limitations set out in the Company's rights offering circular. Further details of the Offering are available under the Company's profile at www.sedar.com.
About MGX Minerals
MGX Minerals (CSE: XMG) is a diversified Canadian mining company engaged in the development of large-scale industrial mineral portfolios in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. The Company operates lithium, magnesium and silicon projects throughout British Columbia and Alberta. For further information, please visit the Company's website at www.mgxminerals.com.
Contact Information
Jared Lazerson
Chief Executive Officer
Telephone: 604.681.7735
Email: jared@mgxminerals.com
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", "potentially" 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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