QMX Gold Announces $3.96 Million Private Placement of $0.10 Flow-Through Shares
June 28 2019 - 8:19AM
QMX Gold Corporation (“
QMX” or
the “
Company”) (TSX:V:QMX) is pleased to announce
a non-brokered private placement of 39,600,000 flow-through common
shares (the “
FT Common Shares”) of the Company at
a price of $0.10 per FT Common Share for gross proceeds of
$3,960,000 (the “
Offering”).
QMX Gold intends to use the net proceeds of the
Offering to fund the Company’s exploration activities on its Val
d’Or property. The securities issued under this Offering will be
subject to a statutory hold period.
The gross proceeds received by the Company from
the sale of the FT Common Shares will be used to incur Canadian
Exploration Expenses ("CEE") that are
"flow-through mining expenditures" (as such term is defined in the
Income Tax Act (Canada)) on the Company's properties in Québec,
which will be renounced to the subscribers with an effective date
no later than December 31, 2019, in the aggregate amount of not
less than the total amount of the gross proceeds raised from the
issuance of FT Common Shares.
The closing of the Offering is expected to occur
on or about July 12, 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 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. In addition to its extensive land package QMX owns the
strategically located Aurbel gold mill and tailings facility.
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Contact Information: |
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Brad Humphrey |
Louis Baribeau |
President and CEO |
Public Relations |
Tel: (416) 861-5887 |
Tel: (514) 667-2304 |
Toll free: +1 877-717-3027
Email: info@qmxgold.ca |
Website: www.qmxgold.ca |
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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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