Margaux (MRL)(MARFF) Resources Announces Non-Brokered Private Placement of Flow-Through Shares and Units

Spotlight Companies  |

Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) is pleased to announce that, subject to TSX Venture Exchange approval it intends to issue, pursuant to a non-brokered private placement, up to:

8,334,000 units ("Units") of the Company at a price of $0.30 per Unit; and

1,389,000 common shares ("Common Shares") of the Company issued on a "CEE flow-through" basis pursuant to the Income Tax Act (Canada) ("Flow-Through Shares") at a price of $0.36 per Flow-Through Share, for aggregate gross proceeds of up to $3 million (the "Offering").

Each Unit will consist of one Common Share and one-half of one Common Share purchase warrant (each whole warrant a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share (each a "Warrant Share") at an exercise price of $0.40 per Warrant Share until 4:30 pm (Calgary time) on that date that is 24 months from the issuance closing date, (the "Expiry Time") subject to accelerated expiry, if the 20-day Volume Weighted Average Price of the Common Shares on the TSX Venture Exchange exceeds $0.50 per share.

"The funds raised will enable Margaux to continue to drive its Kootenay Arc project forward in advance of an extensive 2018 spring drilling program, for which we already have multi-year area-based permits in place until 2022. As well as progressing our tungsten tailings recycling project towards a pilot phase", commented Company President and CEO, Tyler Rice.

Proceeds of the Offering will be used to pursue the Company's ongoing exploration and drilling programs at its Kootenay Arc project in Salmo, BC and for general working capital. The securities issued pursuant to the Offering are subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder Warrants.

About Margaux Resources Ltd.

Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) is a mineral acquisition and exploration company focused on the development of zinc, gold and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and has a fast-growing portfolio of previously producing properties that include the Jersey-Emerald mine, which at one point was the 2nd largest historic zinc-lead mine in B.C. and the 2nd largest tungsten mine in North America.

In the interest of full disclosure, we call the reader's attention to the fact that Equities.com, Inc. is compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way be considered as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker dealer, investment advisor, financial analyst, investment banker or other investment professional. We are a publisher of original and third party news and information. All profiles are based on information that is available to the public. The information contained herein should not be considered to be complete and is not guaranteed by Equities.com to be free from misstatement or errors. The views expressed are our own and not intended to be the basis for any investment decision. Readers are reminded to do their own due diligence when researching any companies mentioned on this website. Always bear in mind that investing in early-stage companies is risky and you are encouraged to only invest an amount that you can afford to lose completely without any change in your lifestyle. Equities has been compensated with cash, common shares and/or warrants for market awareness services provided.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
MRL:CA Margaux Resources Ltd. 0.06 -0.02 -21.43 33,200
MARFF Margaux Resources Ltd 0.07 0.00 0.00 0

Comments

Emerging Growth

Goldrea Resources Corp.

Goldrea Resources Corp is engaged in the acquisition, exploration and development of mineral properties located in North America.