QMX Gold Closes Previously Announced Non-Brokered Private Placement at $3.96 Million
16 Julho 2019 - 7:00PM
QMX Gold Corporation (“
QMX” or
the “
Company”) (TSX:V:QMX) is pleased to announce
it has closed its previously announced non-brokered private
placement for gross proceeds of approximately $3.96 million (the
“
Offering”). In connection with the Offering, the
Company issued 39,600,000 common shares of the Company (each, a
“
FT Share”) that qualify as a “flow through share”
for purposes of the Income Tax Act (Canada).
The Company intends to use the net proceeds from
the Offering to fund the Company’s current exploration activities
on its Val-d’Or Mining Camp property located in Québec. In
connection with the Offering, QMX has engaged Canaccord Genuity
Corp. to act as its financial advisor for the Offering and paid an
advisory fee of $40,000 in cash.
All of the expenditures funded with the gross
proceeds of the Offering shall qualify for "Canadian Exploration
Expenses" (within the meaning of the Income Tax Act (Canada)) and
will qualify as "flow-through mining expenditures" (the "Qualifying
Expenditures"), as defined in subsection 127(9) of the Income Tax
Act (Canada). In addition, the FT Shares will also qualify for the
two 10% enhancements under section 726.4.9 and section 726.4.17.1
of the Quebec Taxation Act, which will be renounced to the
subscribers with an effective date no later than December 31, 2019
to the initial purchasers of the FT Shares in an aggregate amount
not less than the gross proceeds raised from the issue of the FT
Shares.
All securities issued under this Offering are
subject to a statutory hold period ending four months and one day
from the closing date of the Offering.
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.
Stock Option Grant
The Company has granted a total of 6.45 million
stock options to certain officers, directors and consultants of the
Company pursuant to the Company’s stock option plan. The stock
options vest immediately and may be exercised at a price of $0.10
per option for a period of five years from the date of grant. This
grant of options is subject to the approval of the TSX Venture
Exchange.
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 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 |
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 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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