Mx2 Mining Secures C$16 Million Through Private Placement

Mx2 Mining Secures C$16 Million Through Private Placement

In an exciting development within the mining sector, Mx2 Mining Inc. (“Mx2” or the “Company”) proudly announces the successful completion of its previously disclosed brokered private placement (the “Offering”). This offering involved the issuance of common shares and subscription receipts, marking a significant milestone for the company.

The Offering culminated in the issuance of 3,320,000 Common Shares and 28,680,000 Subscription Receipts, all priced at C$0.50 per security, generating impressive gross proceeds of C$16.0 million. Notably, each Subscription Receipt allows the holder to receive one Common Share once specific conditions are satisfied.

Strategic Acquisitions in Focus

Recently, Mx2 has made headlines with its proposed acquisitions, initially announced by Aya Gold & Silver Inc. The agreements involve acquiring two prominent assets: the Amizmiz Gold Project in Morocco and an option for the Tijirit Gold Project in Mauritania. These significant transactions mark Mx2's commitment to strengthening its position in gold exploration.

Once these agreements are finalized, Mx2 will own 100% of the Amizmiz Gold Project and will also have an exclusive option on a 75% interest in the Tijirit Gold Project. This ambitious move showcases Mx2's aggressive strategy to expand its gold portfolio in geopolitically stable regions.

The Role of Agents in the Offering

The role of Eight Capital as the lead agent significantly contributed to the success of this offering. They meticulously managed the private placement alongside a syndicate that includes Beacon Securities Limited and Raymond James Ltd. The goal of this capital raise is clear: to fund exploration and development for the Amizmiz and Tijirit properties while also providing working capital for general corporate initiatives.

Financial Security and Future Outlook

Protecting investors' interests is paramount for Mx2. The proceeds raised from the Subscription Receipts have been securely placed in escrow. These funds are designed to be released once Mx2 meets all necessary conditions for the acquisition transactions, ensuring that all parties are safeguarded during the process.

Should the Escrow Release Conditions not be met within a stipulated timeframe after the Offering closes, all funds, along with accrued interest, will return to the original subscribers. This mechanism showcases Mx2's dedication to maintaining transparency and reliability in its dealings.

Commitment to Sustainable Practices

All Offered Securities remain subject to Canadian securities regulations, reflecting Mx2's commitment to compliance and ethical practices within the industry. The holding period for both Subscription Receipts and Common Shares contributes to a conscientious approach, prioritizing legal and environmental responsibilities.

About Mx2 Mining Inc.

With a dedicated focus on the gold mining sector, Mx2 Mining Inc. is rapidly carving a niche in North African exploration and development. Its leadership team, comprising experienced professionals from several successful mining ventures, drives the mission to explore high-potential regions.

The flagship Amizmiz Gold Project stands out with an impressive Historic Inferred Mineral Resource totaling 819,769 tonnes, grading 12.94 g/t gold and translating to around 342,094 ounces of gold. The prospectivity of Amizmiz is further amplified by ongoing exploration activities, which aim to identify multiple mineralized zones that could yield a resource exceeding 1 million ounces with a grade above 10 g/t.

Contact Information

Salisha Ilyas
Investor Relations
investors@mx2mining.com

Frequently Asked Questions

What is the main goal of the recent private placement by Mx2 Mining?

The primary objective is to raise funds for exploration and development of the Amizmiz and Tijirit Gold Projects while enhancing working capital.

Who led the brokered private placement for Mx2 Mining?

Eight Capital served as the lead agent in orchestrating the successful private placement for Mx2 Mining.

What conditions must be met for the release of escrowed funds?

The funds will be released upon fulfilling all material conditions related to the acquisition transactions and obtaining necessary regulatory approvals.

How does Mx2 Mining ensure investor protection during the Offering?

Investors are protected through escrow conditions that ensure their capital is secured unless all stipulated requirements are met.

What is the significance of the Amizmiz Gold Project for Mx2 Mining?

The Amizmiz Gold Project offers significant resource potential, which could greatly enhance Mx2’s valuation and growth trajectory in the mining sector.

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