Margaux Resources closes $1.93M second tranche

Calgary (pcJ News Briefs) – Margaux Resources Ltd. (TSX-V: MRL; OTCQB: MARFF) has closed the second tranche of its non-brokered private placement, issuing 3,814,998 units at $0.30 per unit and 2,169,558 CEE flow-through (FT) common shares at $0.36 per FT share for aggregate gross proceeds of $1,925,540.

Gross proceeds raised under the first and second tranche of the non-brokered private placement are $3,834,219.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share at a price of $0.40 per share for a period of two years.

Proceeds will be used to pursue the company’s ongoing exploration and drilling programs at its Jersey-Emerald, Jackpot/Oxide, Sheep Creek, Bayonne and Ore Hill properties in Salmo, BC and for general working capital.

Margaux Resources is a focused on the exploration and development of previously producing properties in the Kootenay Arc, located in southeastern British Columbia, including the Jackpot/Oxide, Jersey-Emerald, Sheep Creek and Bayonne properties, on which Margaux has options.

photo credit: Margaux Resources