VANCOUVER, BRITISH COLUMBIA / August 9, 2016 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) reports that in connection with the previously announced Rights Offering (the “Offering”) (see press release dated July 27, 2016), the Rights are set to commence trading on the Canadian Securities Exchange under the ticker symbol XMG.RT beginning at the open of trading on August 10, 2016.
All shareholders of MGX at the close of business on the record date of August 12, 2016 will be entitled to take part in the Offering. The Rights will expire at 2 p.m. Pacific Standard Time (PST) on September 16, 2016 (the “Expiry Time”).
The Offering is being conducted on the basis of one Right for each common share of the Company held. Four Rights entitle the holder to purchase one Unit (“Unit”) of the Company at a subscription price of CA$0.18 per Unit. Each Unit consists of one common share and one-half of one purchase warrant (“Warrant”), with each whole Warrant exercisable into one common share of the Company at a price of CA$0.20 for a period of 24 months from the issuance date.
Shareholders who fully exercise their Rights will be entitled to subscribe for additional Units, if available as a result of unexercised Rights prior to the Expiry Time, subject to certain limitations set out in the Company’s rights offering circular. Further details of the Offering are available under the Company’s profile at www.sedar.com.