Vancouver, BC – November 29, 2017, Corex Gold Corp. (“Corex” or the “Company) announces that further to its news releases of November 2, 2017 and November 27, 2017, the Company has received TSX Venture Exchange approval to close the first tranche of its non-brokered private placement offering (the "Financing") by issuing 16,275,000 units in the capital of the Company (“Units”) at an issue price of $0.10 per unit, for gross proceeds of $1,627,500. Each Unit consisted of one common share in the capital of the Company (a "Common Share") and one non-transferable Common Share Purchase Warrant entitling the holder thereof to acquire an additional Common Share at an exercise price of $0.20 for a period of 18 months expiring on May 29, 2019.
All of the Units issued in connection with the Financing and Common Shares issued on exercise of the Warrants will be subject to a restricted resale period that expires on March 30, 2018.
Finders’ fees of 7% on a portion of the gross proceeds received by the Company from the sale of Units sold pursuant to the Financing shall include cash of $90,650, 906,500 warrants (“Agent Warrants”). Each Agent Warrant shall be exercisable in whole or in part at an exercise price of $0.20 for a period of 18 months expiring on May 29, 2019.
The Company expects to close the second tranche of the private placement in the next two weeks.
Proceeds will be used for the development of the Santana property in Mexico and general operating purposes.
About Corex Gold Corp
Corex Gold Corp is a Canadian resource company focused on the near-term production*, of its 100% owned flagship property, Santana Project, Sonora State, Mexico.
ON BEHALF OF THE BOARD
President & CEO
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President & CEO
*The Company is not basing its production decision (if any), on a feasibility study of mineral reserves demonstrating economic viability and technical feasibility. As a result there is increased uncertainty and a greater risk of economic and technical failure associated with its production decision.
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.” The foregoing information may contain forward-looking statements relating to the future performance of Corex Gold Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Corex Gold Corp.’s filings with the appropriate securities commissions.