Margaux Red Capital Inc. closes Non-Brokered Private Placement of $60,000
MARGAUX RED CAPITAL INC. NEWS RELEASE #1328–885 West Georgia Street TSX Venture Exchange Vancouver, BC V6C 3E8 Trading Symbol: MXC.H
Margaux Red Capital Inc. closes Non-Brokered Private Placement of $60,000
August 25, 2016 – Vancouver, British Columbia: Margaux Red Capital Inc. (the “Company”) announces it has closed a non-brokered private placement consisting of 1,000,000 shares at a price of $0.06 per share for gross proceeds of $60,000 (the “Private Placement”). The Company will use the gross proceeds from the Private Placement for general working capital purposes as it works to complete a Qualifying Transaction as per Policy 2.4 of the TSX-V Exchange (the “Exchange”).
All securities issued pursuant to the Private Placement are subject to a hold period of four-months which expires on December 17, 2016.
An insider of the Company acquired a total of 200,000 common shares in the Private Placement (the "Insider Participation"). The Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair market value of such Insider Participation did not exceed 25% of the Company's market capitalization.
Forward-looking Statement
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company’s control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact Steve Bajic, President at:
Telephone: (604) 288-8950
{W0314289.DOCX}