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MGG Minaurum Gold Inc

0.24
0.005 (2.13%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Minaurum Gold Inc TSXV:MGG TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.005 2.13% 0.24 0.22 0.245 0.25 0.235 0.235 154,017 21:30:22

Minaurum Gold Closes First Tranche of Non Brokered Private Placement

20/12/2013 10:49pm

Marketwired Canada


Minaurum Gold Inc. ("Minaurum") (TSX VENTURE:MGG) is pleased to announce that,
further to its news release earlier today, it has completed a first tranche
closing on $375,000 of its $750,000 non-brokered private placement. Minaurum has
issued 7,500,000 units at a price of $0.05 per unit. Lowell Copper Ltd.
subscribed for the entire first tranche.


The funds raised by way of the private placement will be used for exploration
and drill permitting at its Vuelcos del Destino project in the Guerrero Gold
Belt as well as for working capital purposes. In addition to the contractual
restrictions disclosed in Minarum's news release earlier today, the securities
are subject to a hold period and may not be traded until April 21, 2014.


As a result of the closing of the first tranche, Lowell Copper Ltd. beneficially
owns a total of 7,500,000 common shares of Minaurum and share purchase warrants
entitling it to purchase an additional 7,500,000 common shares, which represents
12.4% of Minaurum's issued common shares on a non-diluted basis or 22.1% on a
partially diluted basis assuming only the exercise of the share purchase
warrants held by Lowell Copper Ltd. Lowell Copper Ltd. acquired the securities
for investment purposes. Lowell may, subject to the previously disclosed
restrictions on transfer agreed upon with Minaurum, increase or decrease its
ownership of common shares of Minaurum from time to time as it may determine
appropriate.


Minaurum Gold is a gold-copper explorer focused on its Vuelcos del Destino
project in the Guerrero Gold Belt, Mexico. For more information, please visit
our website at www.minaurum.com and our YouTube Minaurum Video Channel
(http://www.youtube.com/user/minaurumgold).


ON BEHALF OF THE BOARD

Darrell A. Rader, President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this news release.


Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this
release, including statements regarding the intended use of proceeds, constitute
forward-looking information. In making the forward-looking statements in this
release, Minaurum has applied certain factors and assumptions that are based on
Minaurum' s current beliefs as well as assumptions made by and information
currently available to Minaurum, including that the Minaurum is able to obtain
any required government or other regulatory approvals, equipment and personell
for its planned operations and that actual results of exploration activities
will be consistent with management's expectations. Although Minaurum considers
these assumptions to be reasonable based on information currently available to
it, they may prove to be incorrect, and the forward-looking statements in this
release are subject to numerous risks, uncertainties and other factors that may
cause future results to differ materially from those expressed or implied in
such forward-looking statements, including actual results of Minaurum's
operations being different than those expected by management and delays in
obtaining or failure to obtain required government or other regulatory
approvals, equipment, personnel or financing. Readers are cautioned not to place
undue reliance on forward-looking statements. Minaurum does not intend, and
expressly disclaims any intention or obligation to, update or revise any
forward-looking statements whether as a result of new information, future events
or otherwise, except as required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Minaurum Gold Inc.
Sunny Pannu
Investor Relations Manager
(778) 330 0994
info@minaurum.com
www.minaurum.com

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