VANCOUVER, BRITISH COLUMBIA - September 9, 2014 - MGX Minerals Inc. ("MGX") is pleased to announce that it has completed a private placement by issuing 120,000 common shares. The common shares were issued at a price of $0.25 per share for aggregate gross proceeds of $30,000 and are subject to a statutory hold period, expiring January 8, 2015. There are no finder’s fees payable in connection with the private placement.
MGX also announces that two directors have exercised options to purchase an aggregate of 200,000 common shares at $0.10 per share, for total proceeds of $20,000.
Net proceeds of the private placement and exercising of options will be used for the completion of the 2014 drilling plan and resource estimate of the Driftwood Creek Magnesite Property. The drilling plan is included in the NI 43-101 Technical Report - Driftwood Magnesite (2014) by Dr. D. MacIntyre (P.Eng).