Minaurum Gold Inc. (“Minaurum”) is pleased to announce that it has closed the final tranche of its previously announced oversubscribed private placement (see News Release dated May 8 and May 24, 2018) raising $1,382,248.35. Minaurum has now raised total gross proceeds of $7,084,747.80.
The proceeds of the private placement will be used by Minaurum for its ongoing exploration program at the Alamos Silver project in Sonora State, Mexico, as well as for working capital purposes.
A total of 3,071,663 units were issued in the final tranche at a price of $0.45 per unit. Each unit consists of one common share and one half common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one additional common share of Minaurum for a period of 18 months at an exercise price of $0.65.
Finder’s fees were paid in connection with this tranche totaling $52,125 in cash, and 115,833 broker warrants exercisable for a period of 18 months at an exercise price of $0.65.
The securities issued under the offering will be subject to a four month and one day hold period in accordance with applicable Canadian securities laws that will expire on October 1, 2018.
Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTC; 78M Frankfurt) is a Mexico-focused explorer concentrating on the high-grade Alamos Silver project in southern Sonora State. With a property portfolio encompassing multiple additional district-scale projects, Minaurum is managed by one of the strongest technical and finance teams in Mexico. Minaurum's goal is to continue its founders' legacy of creating shareholder value by making district-scale mineral discoveries and executing accretive mining transactions. For more information, please visit our website at www.minaurum.com and our YouTube Minaurum Video Channel.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu - Investor Relations Manager
(778) 330 0994 or via email at firstname.lastname@example.org
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking statements in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum' s current beliefs as well as assumptions made by and information currently available to Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Minaurum does not intend, and 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 required by law.