Mexican Gold Reveals Private Placement Initiative
Mexican Gold Mining Corp. is excited to share an update regarding its recent non-brokered private placement. This offering involves the issuance of up to 4,000,000 units at a price of $0.04 per unit, aiming to raise a total of CAD $160,000. Each unit comprises one common share and one transferable share purchase warrant, entitling holders to acquire additional shares at an exercise price of $0.06 over a period of three years.
Allocation of Proceeds
The funds from this offering will be strategically allocated, with approximately 16% designated for claim fee payments and 14% for annual listing fees related to the OTCQB market. The interesting aspect is that the remainder will support ongoing operations related to their Las Minas project, addressing outstanding invoices, and ensuring sufficient working capital to facilitate future growth.
Investment Opportunities and Company Limitations
While pursuing this private placement, it's important to note that the company is utilizing the Minimum Price Exception allowed by the TSXV, which permits units to be offered at prices lower than $0.05. However, the company affirms that no more than 10% of the raised proceeds will be allocated to individuals who have close associations with the company.
Regulatory Compliance and Prospective Closure Dates
All securities issued in relation to this placement will be subjected to Canadian securities law hold periods, specifically expiring four months and one day post-closure. Mexican Gold anticipates that the closing of this offering will take place shortly, subject to receiving the required regulatory approvals.
About Mexican Gold Mining Corp.
Mexican Gold Mining Corp. is unwavering in its commitment to developing long-term value through exploration and strategic acquisitions. Currently focusing on the Las Minas project situated within the renowned Las Minas mining district in Mexico, the company is particularly enthusiastic about the potential of this under-explored skarn system known for its mineral richness.
Contact Information
For anyone seeking to learn more about Mexican Gold Mining Corp., they can reach out to Jack Campbell, the CEO, President, and Director. The team is ready to respond to inquiries regarding this new investment initiative. Interested parties can reach Jack via email at info@mexicangold.ca or explore the company's offerings at www.mexicangold.ca.
Frequently Asked Questions
What is the purpose of the private placement?
The private placement aims to raise funds for ongoing operations, claim fees, and OTCQB listing fees related to the company's projects.
How many units can investors purchase?
Investors can purchase up to 4,000,000 units as part of this offering, priced at $0.04 each.
What are the security type details in this placement?
Each unit consists of one common share and one transferable share purchase warrant, allowing for future conversions at a predetermined price.
When is the expected closure date for the offering?
The offering is anticipated to close by February 21, 2025, pending necessary regulatory approvals.
Can U.S. persons participate in this offering?
Due to compliance with U.S. securities laws, the securities offered are not available for purchase by U.S. persons unless properly registered.
