BMEX Closes First Tranche of Financing
BMEX Closes First Tranche of Financing
Vancouver, British Columbia--(Newsfile Corp. - January 12, 2024) - BMEX Gold Inc.
(TSXV: BMEX)
(FSE: 8M0) ("BMEX
"
or the
"
Company")
is pleased to announce it has closed the first tranche of its
private placement which was previously announced on December 14, 2023, for aggregate first tranche
gross proceeds of $140,000. The first tranche closing consisted of 6,000,000 flow-through units of the
Company at a price of $0.02 per flow-through unit for aggregate flow-through gross proceeds of
$120,000. Each flow-through unit consisted of one common share and one-half of one share purchase
warrant, with each warrant exercisable at $0.05 for two years. The Company also issued 1,000,000 non-
flow-through units at $0.02 per unit for proceeds of $20,000.
Each non-flow-through unit consisted of one
common share and one warrant exercisable at $0.05 for two years.
All securities issued pursuant to the Offering are subject to a statutory hold period expiring four months
from the date of issuance.
The Company paid aggregate cash finders fees of $5,950, being $700 paid
to Haywood Securities Inc., $1,750 to PI Financial Corp. and $3,500 to Red Cloud Securities Inc. in
respect of the closing.
The gross proceeds from the sale of the flow through shares will be used to further explore and evaluate
the Company's Dunlop Bay project located in Quebec, Canada.
Any proceeds from the sale of non-flow-
through units will be used for general working capital and may include payment of salaries for the
Company's CFO and CEO.
No funds will be used to pay persons conducting investor relations activities.
About BMEX Gold Inc.
BMEX Gold Inc. is a junior Canadian mining exploration company with the primary objective to acquire,
explore, and develop viable gold and base metal projects in the mining-friendly jurisdiction of Quebec,
Canada. BMEX is currently fully focused on its 100% interest in the two projects, both located in the
prolific Abitibi greenstone belt:
King Tut Project consists of 120 contiguous claims on 5,206 hectares
Dunlop Bay Project consists of 76 mineral claims that cover 4,226 hectares
BMEX common shares trade under the symbol "BMEX" on the TSX-V and under the symbol 8M0 on the
Frankfurt Exchange.
For further information please contact:
BMEX Gold Inc.
Robert Pryde, President
Tel: +1 (403) 478 6042
Email:
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. No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
This news release contains "forward-looking statements" and "forward-looking information" (as defined
under applicable securities laws), based on management's best estimates, assumptions, and current
expectations. Such statements include but are not limited to, statements with respect to the plans for
future exploration and development of the King Tut and Dunlop Bay properties and the acquisition of
additional exploration projects. Generally, these forward-looking statements can be identified by the use
of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts" , "anticipates"
"plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal",
"objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may",
"can", "could" or "should" occur. These statements should not be read as guarantees of future
performance or results. Such statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to be materially different from those
expressed or implied by such statements, including but not limited to: risks related to the King Tut and
Dunlop Bay projects; risks related to general economic conditions, actual results of current exploration
activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be
refined; fluctuations in prices of metals including gold; increases in market prices of mining
consumables, possible variations in resource estimates, grade or recovery rates; failure of plant,
equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and
limitations on insurance coverage and other risks of the mining industry; delays in the completion of
exploration, development or construction activities, changes in national and local government regulation
of mining operations, tax rules and regulations, and political and economic developments in areas in
which the Company operates. Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. The forward-looking statements and forward-
looking information are made as of the date hereof and are qualified in their entirety by this cautionary
statement. The Company disclaims any obligation to revise or update any such factors or to publicly
announce the result of any revisions to any forward-looking statements or forward-looking information
contained herein to reflect future results, events or developments, except as require by law. Accordingly,
readers should not place undue reliance on forward-looking statements and information. Please refer to
the Company's most recent filings under its profile at
www.sedarplus.ca
for further information respecting
the risks affecting the Company and its business.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/194129