Le Lézard
Classified in: Mining industry
Subject: OFR

Monarques Gold Completes Second Tranche of Flow-Through Financing for an Amount of $1.8 Million



/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

MONTREAL, Dec. 7, 2017 /CNW/ - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSX.V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to announce that it has closed a second tranche of a non?brokered private placement (the "Offering") of an aggregate of 4,853,333 flow?through shares (the "FT Shares") at a price of $0.375 per FT Share, for aggregate gross proceeds of $1,819,999.

The aggregate gross proceeds of the Offering will be used by the Corporation to incur exploration expenses on its mining properties located in the province of Québec.

The Corporation paid to Leede Jones Gable Inc. and Desjardins Securities Inc., acting as finders pursuant to the Offering (the "Finders") in consideration for the services rendered in connection with the Offering, an aggregate cash commission of $108,000 and aggregate number of 288,000 finder's options entitling its holder to purchase up to 288,000 common shares in the capital stock of the Corporation, at a price of $0.375 per common share, within a delay of 24 months after the closing of the Offering.

All securities issued pursuant to this Offering are subject to a restricted period of four months and a day, ending on April 8, 2018 under applicable Canadian securities legislation.

This press release does not constitute an offer of securities for sale in the United States or to "U.S. persons" ("U.S. persons"), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corp (TSX-V: MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns more than 240 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video) and Wasamac advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques' actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither 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 press release.

SOURCE Monarques Gold Corporation


These press releases may also interest you

16 fév 2018
Montego Resources Inc. (the "Company" or "Montego") announces a non-brokered private placement (the "Private Placement") for up to 1,724,137 Units ("Units") at a price of $0.29 per Unit to raise total proceeds of $500,000. Each Unit will be...

16 fév 2018
Columbus Gold Corp. ("Columbus Gold") has filed an early warning report advising of a change in its holdings in Allegiant Gold Ltd. ("Allegiant"). On February 15, 2018, Columbus Gold disposed of 2,750,000 common shares of Allegiant (5.89% of the...

16 fév 2018
Pursuant to National Instrument 62-103 ? The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Alamos Gold Inc. ("Alamos" or the "Company") is announcing the sale of 25,300,000 common shares (the "Shares") of Corex Gold...

16 fév 2018
Canada is not among the "bad actors" engaged in unfair trade and dumping of aluminum and steel into the United States and must be excluded from potential U.S. tariffs and quotas, the United Steelworkers (USW) says. "There is no justification to...

16 fév 2018
Osisko Gold Royalties Ltd ("Osisko") announces that, pursuant to the terms of a share purchase agreement entered into with Alamos Gold Inc. on February 16, 2018, Osisko has acquired direct ownership of 25,300,000 common shares of Corex Gold...

16 fév 2018
Columbus Gold Corp. has granted an aggregate of 5,000,000 incentive stock options to certain officers, directors, employees and consultants to purchase up to 5,000,000 common shares in the capital of Columbus. The incentive stock options have an...




News published on 7 december 2017 at 16:30 and distributed by: