TORONTO, ONTARIO–(Marketwired – Jan. 30, 2017) –
NOT FOR CIRCULATION TO UNITED STATES NEWSWIRE SERVICES OR FOR CIRCULATION IN THE UNITED STATES
(All figures in Canadian bucks unless or else mentioned)
QMX Gold Company (QMX or the Firm) (TSX VENTURE: QMX) is carrying out a non-brokered personal placement for an accumulation of $2.6 million (the Offering) for 8,583,333 typical shares in the Company that certify as flow-through shares for purposes of the Earnings Tax obligation Act (Canada) at a problem rate of $0.30 each flow-through share. The Company intends to make use of these earnings to continue expedition tasks on its Val-dOr Mining Camp residential property (Number 1).
Osisko Gold Royalties Ltd. (Osisko) has actually chosen to enhance its shareholding in QMX by acquiring 5.7 million shares of the offering. Following this purchase, Osisko will hold around 20.7 million shares or 14.7% of the released and outstanding shares of QMX, in additionalong with their aristocracies on certain parts of QMXs ground in the Val dOr camp.
Brad Humphrey, President and also CEO of QMX Gold, commented, We are extremely happy with Osiskos proceeded support, and we believe that their additional investment in QMX is a testament to the potential of our land plan. This additional source of resources will certainly allow us to complete additional stages of drilling on our large as well as extremely prospective Val dOr Mining Camp building in Val dOr, Quebec.
The closing of the Offering is anticipated to take place on or concerning February 7, 2017 and also undergoes the invoice of regulative approvals, including the authorization of the TSX Endeavor Exchange. The Flow-Through Shares provided under this Offering will be subject to a legal hold duration finishing 4 months and also someday from the closing day of the Offering. QMX will pay a finders cost to Dundee Resources Partners on a part of the Offering being composedincluding $49,500 and 82,500 broker warrants, with each warrant entitling the owner to acquire one usual share at a rate of $0.30.
Expedition Activities Update
QMX launched a 4,000-meter surface area diamond exploration program in mid-December 2016 to evaluate potential gold showings and also frameworks in the southwestern area of its home surrounding Integra Golds Lamaque South building (Number 2). An IP study has been completed over five square kilometers of the border location. With the final outcomesoutcomes now in hand, QMX is in the procedure of picking and allowing additional targets to finish the Stage 1 drill program. Presently there are two drill rigs active on the building.
QMX is taking a systematic method to exploration on the about 200 sq.km building in the core of the Val dOr mining camp. The structural model being created in Stage 1 gives new understanding right into possible controls on gold mineralization with the camp.To view Number 1-QMX Golds Val dOr Mining Camp Residential property, Val dOr, Quebec, and also Figure 2-Southwestern Target Location, please go to the adhering to web link: http://media3.marketwire.com/docs/1084353_figure1and2.pdf Negotiation of Payables The Business has
entered right intobecome part of a financial debt negotiation contract with a Quebec based vendor pursuant to which it has concurredaccepted make a cash money repayment as well as issue 100,000 typical shares at a deemed price of$0.20. The financial debt negotiation is anticipated to close on or
about February 7, 2017. The common shares to be issued by the Company will certainly undergo a statutory hold duration of four months as well as someday. Completion of the recommended financial debt negotiation goes through a variety of conditions including receipt of TSX Venture Exchange authorization. About QMX Gold Firm QMX Gold Corporation is a Canadian based source company traded on
the TSX-V under the icon QMX. The Company was lately restructured and also is currently systematically exploring its comprehensive residential or commercial property placement in the Val dOr mining camp in the Abitibi District of Quebec. In additionAlong with its extensive land plan, QMX owns the Aurbel gold mill. Cautionary Notes: David Rigg is a qualified individual under National Instrument 43-101 and also Elderly Vice President,
Expedition of QMX. He has reviewed the scientific and also technical info in this press release.This press release includes or might be considered to contain progressive details within the significance of relevant Canadian securities
regulation. Forward-looking information includes, yet is not restricted to, declarations regarding the future strategies, operations as well as activities, proposed useuse proceeds, scheduled closing day, invoice of called for authorizations, getting necessary funding, and also the capability of the Business to continue as a going problem. Usually, forward-looking details can be recognized by the usage of positive terms such as strategies, anticipates or does not anticipate, is expected, budget, scheduled, estimates, projections, intends, anticipates or does not anticipate, or thinks, or variants of such words and phrases or state that certain actions, occasions or outcomes may, could, would certainly, may or will be taken, occur or be accomplished. Forward looking information goes through known as well as unidentified risks, uncertainties and also various other aspects that could trigger the actual outcomes, degree of activity, performance or accomplishments of the Business, its residential properties and/or its projects to be materially different from those revealed or indicated by such positive information, consisting of however not limited to those dangers explained in the disclosure papers of the Firm filed under the Companys profile on SEDAR. Although the Business has tried to determine vital factors that can trigger real results to differ materially from those had in forward-looking info, there may be other aspects that cause results not to be as prepared for, estimated or intended.Firm has tried to recognize essential aspects that could cause real outcomes to differ materially from those had in progressive information, there could be other variables that cause results not to be as prepared for, estimated or intended. There can be no guarantee that such details will certainly prove to be exact, as actual outcomes as well as future occasions can differ materially from those prepared for in such declarations. Accordingly, readers ought to not put unnecessary dependence on progressive information. The Company does not undertake to update any kind of progressive info, other than in accordancebased on suitable safety and securities laws.This information releasepress release does not constitute an offer to offer or a solicitation of a deal to acquire any one of the safeties in the United States. The safeties have actually not been as well as will certainly not be registered under the USA Stocks Act of 1933, as changed( the US Securities Act )or any kind of state securities regulations as well as could not be supplied or offered within the USA or to United States Folks unless signed up under the US Securities Act and relevant state protections legislations or an exception from such registration is available.Neither TSX Endeavor Exchange neither its Policy Provider Supplier( as that term is defined in policies of the TSX Endeavor Exchange)approves duty for the competence or accuracy of this release.
FOR FURTHER INFO PLEASE CONTACT: Brad Humphrey Head of state and also Chief Executive Officer -LRB-416-RRB- 861-5887 or +1 email@example.com!.?.!www.qmxgold.ca!.?.!Louis Baribeau Public Relations -LRB-514-RRB- 667-2304 numbers in Canadian bucks unless or else specified)
QMX Gold Corporation (QMX or the Business) (TSX VENTURE: QMX) is embarking on a non-brokered private placement for an accumulation of $2.6 million (the Offering) for 8,583,333 common shares in the Business that certify as flow-through shares for purposes of the Revenue Tax Act (Canada) at an issue rate of $0.30 per flow-through share. Brad Humphrey, President as well as CEO of QMX Gold, commented, We are very pleased with Osiskos proceeded support, as well as we believe that their extra financial investment in QMX is a testimony to the potential of our land bundle. Expedition Tasks Update
QMX launched a 4,000-meter surface diamond exploration program in mid-December 2016 to test possible gold provings and frameworks in the southwestern area of its residential property surrounding Integra Golds Lamaque South home (Number 2).
(All figures in Canadian bucks unless or else mentioned)
QMX Gold Firm (QMX or the Company) (TSX ENDEAVOR: QMX) is carrying out a non-brokered exclusive placement for an accumulation of $2.6 million (the Offering) for 8,583,333 usual shares in the Business that qualify as flow-through shares for purposes of the Income Tax obligation Act (Canada) at an issue price of $0.30 each flow-through share. Osisko Gold Royalties Ltd. (Osisko) has chosen to boost its shareholding in QMX by getting 5.7 million shares of the offering. Brad Humphrey, Head of state as well as CEO of QMX Gold, commented, We are very pleased with Osiskos proceeded assistance, and also we think that their added financial investment in QMX is a testimony to the potential of our land package. Expedition Activities Update
QMX initiated a 4,000-meter surface ruby exploration program in mid-December 2016 to check potential gold provings as well as structures in the southwestern location of its home bordering Integra Golds Lamaque South residential or commercial property (Figure 2). QMX is taking a systematic method towards expedition on the approximately 200 sq.km building in the core of the Val dOr mining camp.