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VANCOUVER, BRITISH COLUMBIA – February 25, 2015 – MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG) is pleased to announce that it has closed the second tranche of its private placement announced on October 30, 2014, for 333,333 common shares at a price of $0.25 per share, yielding gross proceeds of $83,333. The proceeds generated from the private placement were used towards the engagement of a business marketing consultant.
The newly issued shares shall be subject to a four month and one day hold period from today’s closing date.
There was no finder fees paid in connection with the private placement.
About MGX Minerals
MGX Minerals (CSE: XMG) is a diversified Canadian mining company engaged in the acquisition and development of industrial mineral deposits in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. For more information please visit the Company’s website at www.mgxminerals.com.
For further information on MGX, please contact:
Chief Executive Officer
MGX Minerals Inc.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com