Home / Mining Company News Releases (Unreviewed) / Marifil Mines Limited Announces Closing of $2,000,000 Private Placement

Marifil Mines Limited Announces Closing of $2,000,000 Private Placement

Vancouver, British Columbia–(Newsfile Corp. – February 16, 2018) – MARIFIL MINES LIMITED. (TSXV: MFM) (the “Company“) is pleased to announce that is has closed its previously announced private placement of 20,000,000 units at $0.10 per unit for gross proceeds of $2,000,000 subject to final Exchange approval. Each unit consists of one common share and one warrant. Each warrant entitles the holder to acquire an additional common share at a price of $0.10 per share for 24 months from the date of issuance. In connection with the private placement the Company paid a finder’s fee of 348,000 units to Canaccord Genuity Corp. All shares and warrants are subject to a hold period ending June 16, 2018.

Proceeds from the placement will be used for acquisitions, a drilling program at San Roque and general working capital.

Pursuant to the private placement, Mr. Robert Abenante directly or indirectly acquired 2,750,000 units of the Company. As a result of the acquisition, Mr. Abenante now holds 3,850,000 common shares, representing 10.07% of the issued and outstanding common shares of the Company. Mr. Abenante would own 6,775,000 common shares representing 17.72% of the then issued and outstanding shares of the Company on a partially diluted basis, assuming the exercise of 2,850,000 share purchase warrants and 75,000 options held by Mr. Abenante and his related entities. The Company has been advised that Mr. Abenante and his related entities acquired these securities for investment purposes and may in the future acquire or dispose of securities of the Company, through the market, private or otherwise, as circumstances or market conditions warrant.

Contact information:

Robert Abenante,
Chief Executive Officer.
Email: [email protected]
Website: www.marifilmines.com

For further information regarding Marifil Mines Limited, please refer to the Company’s filings available on SEDAR (http://www.sedar.com) or at Marifil’s Website (http://www.marifilmines.com).

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.

General Disclaimer

Marifil Mines Limited. “Marifil”, has taken all reasonable care in producing and publishing information contained in this news release, and will endeavor to do so on a periodic basis. Material in this news release may still contain technical or other inaccuracies, omissions, or typographical errors, for which Marifil assumes no responsibility. Marifil does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.

Forward-Looking Statements

This news release may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Not for distribution to United States newswire services or for dissemination in the United States


Disclaimer: This is an unedited and minimally reviewed public mining company press release originally published at http://www.newsfilecorp.com/release/32864/Marifil-Mines-Limited-Announces-Closing-of-2000000-Private-Placement. We have linked to our knowledge base articles from within the content of this release in order to help explain some of the terminology used and provide continuity from previous and related news coverage. You can access more in-depth mining company project reviews on our site, as well a knowledge base of articles on mineral exploration, mining and geology-related topics.

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