Margaux Resources Announces Closing of Second Tranche of Non-Brokered Private Placement of Flow-Through Shares and Units, and Conversion of Promissory Note to Shares
NEWS RELEASE
Margaux Resources Announces Closing of Second Tranche of Non-Brokered
Private Placement of Flow-Through Shares and Units, and Conversion of
Promissory Note to Shares
CALGARY, ALBERTA -- (The Newswire – March 31, 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 further to its press releases dated February 9, 2017 and March 9, 2017 and subject to receiving final regulatory
approvals, it has closed the second tranche of its non-brokered private placement (the “Offering”) by issuing:
• 3,814,998 units ("Units") of the Company at a price of $0.30 per Unit for aggregate gross proceeds of
$1,144,499; and
• 2,169,558 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 $781,041.
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 second tranche of the Offering are $1,925,540.
Gross proceeds raised under the first and second tranche of the non-brokered private placement are $3,834,219.
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, Bayonne and Ore Hill 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.
Conversion of Promissory Note
Finally, pursuant to a promissory note dated March 30, 2016 granted by the Company to a third party (the "Note"),
the Company has elected to issue 400,000 Shares in settlement of $ 100,000, the aggregate total amount owing
under the Note, in accordance with the terms of the Note.
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 f uture 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 followin g: Margaux's exploration plans and work commitments, the receipt of required
regulatory and other approvals , 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 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.
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