MX Gold Corp. Closes $4 Million dollar Private Placement

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Dear Shareholders:
June 22, 2016
 MX Gold Corp. Closes $4 Million Private Placement
  •  Fully Funded to execute its entire 2016 work programs 

 

MX Gold Corp. (TSX-V: MXL) (FSE: ODV) (OTCQX: DTVMF) is please to announce that, further to its news releases dated May 27th and June 3rd, it closed a private placement and raised gross proceeds of $4,000,000 on June 22, 2016. On the closing date, MX Gold issued 33,333,333 units, each unit consisting of one common share and one share purchase warrant, which entitles the holder to purchase one additional common share at a price of $0.20 for a period of four years subject to an acceleration provision of MX Gold whereby, in the event that MX Gold’s common shares trade above $0.50 on the TSX Venture Exchange for a period of fifteen consecutive trading days, the warrants will terminate on the date that is 30 days following receipt of a call notice in the event the holder has not exercised the warrants by such date.

“We are fully funded and able to move forward on our 2016 WillaMax project. This is a huge milestone for our company and we want to thank our shareholders who helped us get here,” says Company President Akash Patel
.
In connection with the closing of the financing, MX Gold paid cash finder’s fees of $30,862. All securities issued in connection with the financing are subject to a statutory hold period expiring on October 23, 2016.
None of the securities issued in connection with the financing will be registered under theUnited States Securities Act of 1933, as amended (the “1933 Act“), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there by any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About MX Gold Corp. 

MX Gold Corp.  is a junior mining company focused on the mining, exploration and development of advanced projects located in the Kootenay region of British Columbia. The Company’s primary focus is its high-grade Willa gold and copper project located 12 kilometers south of Silverton, BC.  In 2015, MX Gold Corp completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. The Willa mine is located 135 kilometers south of the Max Mill Project site.

On behalf of the Board of Directors,
“Dan Omeniuk”
Dan Omeniuk, Chief Executive Officer and Director, Discovery Ventures Inc.
For further information, please contact Ron Birch 250-545-0383
or
SkanderBeg Capital Advisors
or by email at:

This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Discovery, including without limitations the statements regarding mineralization and recoveries from mineral samples on the Willa project, anticipated mineralization, plans and anticipated results of future sampling, production potential. There are numerous risks and uncertainties that could cause actual results and Discovery’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) the results of the historical testing and current metallurgical testing prove to be inaccurate or not to be indicative of wider mineralization at the Willa project; (ii) risks inherent in the mineral exploration industry in general; (iii) the ability of Discovery to complete additional testing in the future; and (iv) such other risks and uncertainties which may not be known to Discovery at this time. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Discovery does not intend to update these forward-looking statements.
 
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

Disclaimer © 2010 Junior Gold Report
Junior Gold Report’ Newsletter: Junior Gold Report’s Newsletter is published as a copyright publication of Junior Gold Report (JGR). No Guarantee as to Content: Although JGR attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. JGR, its associates, authors, and affiliates are not responsible for errors or omissions.

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report does not take responsibility for accuracy of forward looking statements and advises the reader to perform own due diligence on forward looking numbers or statements.

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