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MGX Minerals Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA / August 31, 2015 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) announces that the Company intends to complete a non-brokered private placement (the “Private Placement”) for up to 2,000,000 Units (“Units”) at a price of CA$0.50 per Unit.

Each Unit will consist of one common share and one common share purchase warrant (“Warrant”). Each Warrant is exercisable into one common share of the Company at a price of CA$0.65 for a period of one year from closing.

Proceeds from the Private Placement will be used for capital acquisitions of equipment and plant location, as well as development, engineering, and permitting of MGX’s Driftwood Creek magnesium project and general corporate purposes.