- Mexican Gold Mining (MEX) has closed its post-consolidation non-brokered private placement for gross proceeds of $899,999.76
- The company issued 7,499,998 units at a post-consolidation price of $0.12 per unit
- Mexican Gold intends to use the net proceeds to fund continuing operations of the company and for general working capital purposes
- Mexican Gold is a Canadian-based mineral exploration and development company
- Mexican Gold Mining Corp. (MEX) is down 30.00 per cent, trading at C$0.07 per share at 4:19 pm ET
Mexican Gold Mining (MEX) has closed its post-consolidation non-brokered private placement for gross proceeds of $899,999.76.
The company issued 7,499,998 units at a post-consolidation price of $0.12 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant shall be convertible into an additional share at $0.15 for 36 months from the date of issuance.
Three insiders of the company also participated in the offering and subscribed to 708,333 units for total consideration of $84,999.96.
Mexican Gold intends to use the net proceeds to fund continuing operations of the company and for general working capital purposes.
In connection to the offering, the company paid finder’s fees of $3,474.00 in cash.
All securities issued are subject to a four-month statutory hold period, expiring on July 16, 2023.
About Mexican Gold Mining
Mexican Gold is a Canadian-based mineral exploration and development company. It focuses on building long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals and copper projects in the Americas.
The company is exploring and advancing the Las Minas Project, which is located in the core of the Las Minas mining district in Veracruz State, Mexico. It is host to one of the newest, under-explored skarn systems known in Mexico.
Mexican Gold Mining Corp. (MEX) is down 30.00 per cent, trading at C$0.07 per share at 4:19 pm ET.