MGXMF - MGX Minerals Announces Non-Brokered Private Placement
(TheNewswire)
VANCOUVER, BRITISH COLUMBIA - TheNewswire - January 17, 2022 - MGXMinerals Inc. (“MGX” or the “Company”)( CSE:XMG ) / ( FKT: 1MG )/ (CNSX:XMG.CN) is pleasedto announce that the Company intends to complete a non-brokered private placement (the “PrivatePlacement”) for up to 5,000,000 Units (“Units”) at a price of CA$0.05 per Unit.
[Each Unit will consist of one common share in the capital of theCompany (each a “CommonShare) and one common share purchase warrant (“Warrant”). EachWarrant is exercisable intoone Common Share at a price of CA$0.10 for a period of two yearsfrom the date of issue. EachWarrant is callable by MGX in the event its Common Shares trade on the Canadian Securities Exchangeat a 10 day volume weighted average price equal to or greater than $0.20.]
Closing of the Private Placement is expected to take place the prior to January 21, 2022. The securities issued under the Private Placement are expected to be subject to a hold period of four- months and a day.
Proceeds from the Private Placement will be used fordeveloping mining properties in British Columbia, as well as funding research and development of anadvanced silicon anode for high efficiency lithium ion batteries anddevelopment of a new zinc ion battery, jointly with the University of British Columbia, in addition togeneral corporate purposes.
MGX Minerals is a diversified Canadian resource andtechnology company with interests in strategic metals, precious metalsand advanced energy technologies.
ContactInformation:
Andris Kikauka
Chief Executive Officer
604 373 8565
Neither the Canadian Securities Exchange nor itsRegulation 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.
This news release contains forward-looking informationor forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws. All statements, other than statements of historicalfact, included herein are forward ? looking information. Forward-looking information in this news release include, but are not limitedto, statements with respect to holding thepostponed Meeting, and the filing of an amended notice of meeting andrecord date for the postponed Meeting. Forward-looking information is generally, but not always, identified by the words "expects", "plans","anticipates", "in the event", "if","believes", "asserts", "position","intends", "envisages", "assumes", "recommends", "estimates", "approximate", "projects", "potential", "indicate" and similar expressions, or that eventsor conditions "will", "would", "may","could" or "should" occur.
The Company’s forward-looking information are based on the applicable assumptions and factors the Company considers reasonable as ofthe date hereof, based on the information available to the Company at such time, including without limitation, its ability to complete the Private Placement. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and thatactual results may differ materially from those in forward-looking information as a result of various risk factors. These factors include, among others, uncertainties arising from the COVID-19 pandemic, and general economic conditions or conditions in thefinancial markets. The reader is referred to the Company's publicfilings for a more complete discussion of suchrisk factors, and their potential effects, which may be accessedthrough the Company's profile on SEDAR at www.sedar.com. Except as requiredby securities law, the Company does not intend,and does not assume any obligation, to update or revise anyforward-looking information, whether as a result of newinformation, events or otherwise.
This news release does not constitute an offer to sellor a solicitation of an offer to buy any of the securities in the United States. The securities have not beenand will not be registered under the UnitedStates Securities Act of 1933, as amended (the “U.S. SecuritiesAct”) or any state securities laws and may notbe offered or sold within the United States unless registered underthe U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
THIS NEWS RELEASE IS INTENDED FORDISTRIBUTION IN CANADA ONLYAND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Copyright (c) 2022 TheNewswire - All rights reserved.