Margaux Resources Announces Closing of First Tranche of Non-Brokered Private Placement of Units
NOT FOR DISSEMINATION IN THE UNITED STATES
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NEWS RELEASE
Margaux Resources Announces Closing of First Tranche of Non-Brokered Private
Placement of Units
CALGARY, ALBERTA -- (April 28, 2020)
Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) ("Margaux" or the "Company") is pleased to announce
that further to its press release dated March 5, 2020, and subject to receiving final regulatory approvals, it has closed
the first tranche of its non-brokered private placement (the ”Offering”) by issuing 3,571,500 units (“Units”) of the
Company at a price of $0.07 for aggregate proceeds of $250,005.
Each Unit consists of one common share in the capital of the Company ("Common Share") and one Common Share
purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one Common Share (each a "Warrant
Share") at an exercise price of $0.12 per Warrant Share until 4:30 pm (Mountain Standard time) on that date that is
24 months from the issuance closing date, subject to accelerated expiry, if the 20-day Volume Weighted Average
Price of the Common Shares on the TSX Venture Exchange exceeds $0.20 per share.
President and CEO, Tyler Rice stated “We welcome this new investment from GoldSpot Discoveries, a mining-
focused technology and investment company that is working with some of the leading exploration and mining
names in the industry”.
The securities issued pursuant to the Offering are subject to a four month hold period under applicable securities
laws.
As previously announced, the proceeds of the Offering will be used to pursue the Company’s ongoing exploration
and drilling programs and for general working capital.
About Margaux Resources Ltd.
Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a Canadian gold exploration company focused on
exploration in British Columbia, and is directed by a group of highly successful Canadian business executives.
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 involves 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 use of proceeds of
the Offering 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 only 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.
NOT FOR DISSEMINATION IN THE UNITED STATES
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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