The Prospector News

QMX Gold Announces the Closing of a Six Million Dollar ($6M) Private Placement and a Strategic Investment by Osisko Gold Royalties Ltd.

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

QMX Gold Announces the Closing of a Six Million Dollar ($6M) Private Placement and a Strategic Investment by Osisko Gold Royalties Ltd.

 

 

 

 

 

QMX Gold Corporation (TSX-V:QMX) is pleased to announce the closing of the previously announced non-brokered private placement financing for gross proceeds of $6,000,000 at a price of $0.10 per share consisting of 50,0000,000 common shares and 10,000,000 flow through shares. QMX intends to use the proceeds from the private placement to resume exploration activities, general corporate purposes and to settle outstanding indebtedness.

 

 

QMX is also pleased to report that Osisko Gold Royalties Ltd participated in the private placement and now hold 15 million shares or approximately 13% of the total shares issued and outstanding.

 

 

With the closing of the private placement, and the previously announced debt settlement agreement, QMX is now in a strong position to resume its exploration activities in Val d’Or. A first phase drill program is expected to begin in early November focusing on prospective gold targets along the western boundary.

 

 

“QMX is pleased to welcome Osisko as a shareholder. We view this investment as a vote of confidence in the exploration potential in Val d’Or” commented Mr. Humphrey, President and CEO. “With the closing of the private placement and by reaching a debt settlement agreement with our debenture holders, we are excited to resume exploration activities on our very prospective address.”

 

 

The financing remains subject to receipt of final approval from the TSX Venture Exchange. All shares issued pursuant to the private placement will be subject to a statutory four month and one day hold period expiring on February 18, 2017.

 

 

About QMX Gold Corporation

 

 

QMX Gold Corporation is a Canadian resource company traded on the TSX-V under the symbol “QMX”. The Company is exploring its more than 200km2 property position in the Val d’Or mining camp in the Abitibi District. In addition, QMX owns the Aurbel gold mill in Val d’Or Quebec.

 

Posted October 17, 2016

Share this news article

MORE or "UNCATEGORIZED"


Uranium Royalty Corp. Closes $30 million Initial Public Offering and Announces Listing on the TSX Venture Exchange

Uranium Royalty Corp. (TSX-V: URC) is pleased to announce that it... READ MORE

December 6, 2019

Denison Completes CAD$4.7 Million Bought Deal Private Placement of Flow-Through Shares

Denison Mines Corp. (DML: TSX) (DNN: NYSE American) is plea... READ MORE

December 6, 2019

Scorpio Gold Reports Results of Drilling at the Keystone-Jumbo Area, Goldwedge Property, Nevada

Scorpio Gold Corporation (TSX-V:SGN) announces results of its fir... READ MORE

December 6, 2019

Nevada Exploration Closes Oversubscribed Financing

Nevada Exploration Inc. (TSX-V: NGE) (OTCQB: NVDEF) is pleased to... READ MORE

December 6, 2019

Ascot Exploration Drilling Intersects 17.29 g/t Gold Over 3.58 Metres in New Area West of Premier Portal

Ascot Resources Ltd (TSX: AOT) (OTCQX: AOTVF) is pleased to annou... READ MORE

December 6, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions