QMX Gold Corporation Announces $1 Million Private Placement at $0.05 Per Unit
May 30 2019 - 6:00PM
QMX Gold Corporation (“
QMX” or
the “
Company”) (TSX:V:QMX) is pleased to announce
a non-brokered private placement of up to 20,000,000 units (the
“
Units”) of the Company at a price of $0.05 per
Unit for gross proceeds of up to $1,000,000 (the
“
Offering”).
Each Unit will consist of one common share of
the Company (each, a “Common Share”) and one half
of one common share purchase warrant (each whole warrant, a
“Warrant”) of the Company. Each Warrant will
entitle the holder thereof to purchase one additional Common Share
of the Company at a price of $0.075 per Common Share, for a period
of 24 months following the closing date of the Offering.
The closing of the Offering is expected to occur
on or about June 14, 2019 and is subject to the receipt of
regulatory approvals, including the approval of the TSX Venture
Exchange. QMX has engaged Canaccord Genuity Corp. to act as its
financial advisor for the Offering. The Company may compensate
persons who act as finders for the Offering in accordance with the
rules of the TSX Venture Exchange.
The Company intends to use the net proceeds of
the Offering to fund the Company’s exploration activities on its
Val d’Or property and for general corporate and working capital
purposes. The securities issued under this Offering will be subject
to a statutory hold period.
The securities offered under the Offering have
not been registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.
About QMX Gold Corporation
QMX Gold Corporation is a Canadian based
resource company traded on the TSX Venture Exchange under the
symbol “QMX”. The Company 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
portion of its land package focused on the Bonnefond plug and in
and around the Bevcon Intrusive. In addition to its extensive land
package QMX owns the strategically located Aurbel gold mill and
tailings facility, which is expected to commence custom milling in
mid-2019
Contact Information:Brad
Humphrey
Louis BaribeauPresident and CEO
Public RelationsTel: (416) 861-5887
Tel: (514) 667-2304Toll free: +1
877-717-3027 Email:
info@qmxgold.ca
Website: 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
the intended use of proceeds, closing conditions and timing and
other matters relating to the Offering, 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.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
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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