Minaurum Closes $4,200,000 Non-Brokered Private Placement
NEWS RELEASE
MINAURUM GOLD INC.
FOR RELEASE: June 9, 2020 TRADING SYMBOL TSX.V:MGG
(MGG 2020 – NR #7)
MINAURUM CLOSES $4,200,000 NON-BROKERED PRIVATE PLACEMENT
Minaurum Gold Inc . (“Minaurum” or the “ Company”) is pleased to announce the closing of its
previously announced non-brokered private placement (the “ Private Placement ”). A total of
10,525,000 units (the “Units”) were sold at a price of $0.40 per Unit, for gross proceeds of
$4,210,000 to primarily Sprott Global Resource Investments, Ltd. (“ Sprott”) and existing
shareholders.
Each Unit consists of one common share of the Company (each, a “ Common Share”) and one-half
of one Common Share purchase warrant (each whole warrant, a “ Warrant”). Each Warrant is
exercisable to acquire an additional Common Share at an exercise price of $0. 60 for a period of 24
months following the closing of the Private Placement.
The Company intends to use the proceeds from the Private Placement for exploration of the Alamos
Silver Project and general working capital purposes. All securities issued and issuable under the
Private Placement are subject to a four -month hold period fro m the date of closing of the Private
Placement, in addition to any other restrictions under applicable law.
As consideration for their services in connection with the Private Placement, Sprott received cash
commission in the amount of $178,200 and an aggregate of 445,500 broker warrants (the “Broker
Warrants”). Each Broker Warrant is exercisable at a price of $0.40 for a period of 2 4 months
following the closing of the Private Placement, subject to adjustment in certain circumstances.
Closing of the Private Placement is subject to all necessary regulatory approvals including acceptance
from the TSX Venture Exchange (the “Exchange”).
Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTC; 78M Frankfurt) is a
Mexico-focused explorer concentrating on the high-grade Alamos Silver Project in southern Sonora.
With a property portfolio encompassing multiple additional district -scale projects, M inaurum is
managed by one of the strongest technical and finance teams in Mexico. Minaurum's goal is to
continue its founders' legacy of creating shareholder value by making district -scale mineral
discoveries and executing accretive mining transactions. Fo r more information, please visit our
website at www.minaurum.com and our YouTube Minaurum Video Channel.
ON BEHALF OF THE BOARD
“Darrell A. Rader”
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu – Investor Relations Manager
(778) 330 0994 or via email at [email protected]
___________________________________________________________________________
2300 – 1177 West Hastings Street Telephone 778 330-0994
Vancouver, BC V6E 2K3 www.minaurum.com
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.
Cautionary Note Regarding Forward Looking Statements.
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning
of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date
of this news release. "Forward-looking information" in this news release includes information about the Company’s use
of proceeds of the Private Placement including the Company’s intention to complete exploration work on the Alamos
Silver Project, and expectations regarding future operations and other forward -looking information. Factors that could
cause actual results to differ materially from those described in such forward -looking information include, but are not
limited to, the inability to ob tain the necessary TSX Venture Exchange approvals to complete the Private Placement or
be able to apply the proceeds of the Private Placement as anticipated by management.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the
Company based on information currently available to the Company. In connection with the forward-looking information
contained in this news release, the Company has made assumptions about the Company’s ability to close the Private
Placement, that the Company's financial condition and development plans do not change as a result of unforeseen events,
and that the Company will receive all required regulatory approvals, including TSX Venture Exchange approval, for the
Private Placement.
Although the Company believes that the assumptions inherent in the forward -looking information are reasonable,
forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty therein.
The Company does not assume any obligation to update the forward -looking statements, or to update the reasons why
actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable
securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the
Canadian securities regulators, which filings are available at www.sedar.com.