Margaux Resources Announces Closing of First Tranche of Non-Brokered Private Placement of Flow-Through Shares and Units
NEWS RELEASE
Margaux Resources Announces Closing of First Tranche of Non-Brokered Private
Placement of Flow-Through Shares and Units
CALGARY, ALBERTA -- (The Newswire – March 9, 2017)
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.
Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company”) is pleased to announce
that it has closed the first tranche of its previously announced non-brokered private placement (the “ Offering”) by
issuing:
• 4,876,661 units ("Units") of the Company at a price of $0.30 per Unit for aggregate gross proceeds of
$1,462,998; and
• 1,237,998 common shares (“Common Shares”) of the Company issued on a CEE flow-through basis pursuant
to the Income Tax Act (Canada) (“Flow-Through Shares”) at a price of $0.36 per Flow-Through Share for
aggregate gross proceeds of $445,679.
Each Unit consists of one Common Share and one-half of one Common Share purchase warrant (each whole warrant,
a "Warrant"). Each whole Warrant will expire 24 months from the closing date of the Offering and will entitle the
holder to acquire one Common Share of the Company at a price of $0.40 per Common Share. Gross proceeds raised
under the first tranche of the Offering are $1,908,678.
Proceeds of the Offering will be used to pursue the Company’s ongoing exploration and drilling programs at its
Jersey-Emerald, Jackpot/Oxide, Sheep Creek and Bayonne properties in Salmo, BC and for general working capital.
The securities issued pursuant to the Offering are subject to a four -month hold period under applicable securities
laws. The Company has agreed to pay a finder’s fee on certain subscriptions under the Offering in the amount of 6%
cash on the proceeds received from certain subscribers and 6% finder’s warrants.
Finally, further to its press release dated February 9, 2017 and subject to receipt of all required regulatory approvals,
the Company intends to amend the composition of the previously announced Offering to up to 12,500,000 Units and
up to 3,472,222 Flow-Through Shares, for the same aggregate gross proceeds of up to $5,000,000 as a result of
investor demand.
About Margaux Resources Ltd.: Margaux is a publicly traded polymetallic exploration company 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. The Company is directed by a group of highly successful Canadian business executives with proven track
records. Margaux trades on the TSX Venture Exchange under the symbol MRL and on the OTCQB under the symbol
MARFF.
Forward Looking Statements
This press release may contain forward looking statements including those describing Margaux's future plans and
the expectations of management that a stated result or condition will occur. Any statement addressing future events
or conditions necessarily in volves inherent risk and uncertainty. Actual results can differ materially from those
anticipated by management at the time of writing due to many factors, the majority of which are beyond the control
of Margaux and its management. In particular, this news release contains forward -looking statements pertaining,
directly or indirectly, to the following: Margaux's exploration plans and work commitments, the receipt of required
regulatory and other approvals , the timing and completion of remaining tranches of the Offering and composition
thereof, as well as other market conditions and economic factors, business and operations strategies . Readers are
cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak o nly
as of the date of this release or as of the date specified in the documents accompanying this release, as the case may
be. The Company undertakes no obligation to publicly update or revise any forward -looking statements except as
expressly required by applicable securities laws.
Neither the 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.
CONTACT INFORMATION
Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590