Mexican Gold announces $1.5M private placement

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By CPE News

Thunder Bay, ON (pcJ News Breifs) – Mexican Gold Corp. (TSX-V: MEX) has arranged a non-brokered private placement of up to 5,000,000 units at a price of $0.30 per Unit for gross proceeds of up to $1,500,000.

Each Unit will consist of one common share and one transferable common share purchase warrant entitling the holder to purchase one common share at a price of $0.45 per share for a period of twenty-four months from the closing date.

Net proceeds will be used to continue exploration on the company’s Las Minas Project located in the State of Veracruz, Mexico, and for property payments, and general working capital purposes.

Closing is anticipated to occur on or about May 5, 2017.

Mexican Gold Corp., formerly Source Exploration Corp., is a Canadian based mineral exploration company that holds an option on the Las Minas gold, silver and copper exploration project located within the Las Minas mining district in the State of Veracruz, Mexico.

photo credit: Mexican Gold