QMX Gold Upsizes and Closes Previously Announced Non-Brokered Private Placement at $1.5 Million
August 16 2018 - 6:30PM
QMX Gold Corporation (“QMX” or the “Company”)
(TSX:V:QMX) is pleased to announce it has closed its previously
announced non-brokered private placement for gross proceeds of
approximately $1.5 million. In connection with the financing, the
Company issued 15,150,000 units (“Units”) at a price of $0.10 per
unit. Each Unit is comprised of one common share and one share
purchase warrant exercisable for one common shares of the Company
at any time prior to 4:00 p.m. (Toronto time) on February 16, 2021
at a price of $0.15 per share. The Company intends to use the net
proceeds of the Offering for general corporate and working capital
purposes.
In connection with the Offering, the Corporation
has agreed to pay a finder’s fee in cash equal to 7.0% of the gross
proceeds received by the Company from investors sourced by the
finder and issue broker warrants (the “Broker
Warrants”) equal to 7.0% of the aggregate number of Units
issued to investors sourced by the finder. Each Broker Warrant
shall entitle the finder to purchase one Common Share at a price of
$0.15 per Common Share for a period of 30 months following the
closing of the Offering.
The securities issued under this Offering will
be subject to a statutory hold period.
About QMX Gold Corporation
QMX Gold Corporation is a Canadian based
resource company traded on the TSX-V under the symbol “QMX”. The
Company has a strong balance sheet and is systematically exploring
its extensive property position in the Val d’Or mining camp in the
Abitibi District of Quebec. QMX is currently drilling in the Val
d’Or East camp portion of its land package focused on the Bonnefond
South Plug and in and around the Bevcon Intrusive. In addition to
its extensive land package, QMX owns the Aurbel gold mill.
Contact Information: |
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Brad
Humphrey President and CEO Tel: (416)
861-5887Toll free: +1 877-717-3027 |
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Email: info@qmxgold.ca |
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Louis
BaribeauPublic RelationsTel: (514)
667-2304Website: www.qmxgold.ca |
Cautionary Note Regarding Forward-Looking
Information:
This press release contains or may be deemed to
contain “forward-looking information” within the meaning of
applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements regarding
future plans, operations and activities, projected mineralization,
timing of assay results, and the ability of the Company to continue
as a going concern. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
“plans”, “expects” or “does not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or
“does not anticipate”, or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. Forward looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company, its properties and/or its projects to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to those risks described in
the disclosure documents of the Company filed under the Company’s
profile on SEDAR. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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