Montreal, Quebec, Canada, November 17, 2017 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX.V:MQR)(OTCMKTS:MRQRF)(FRANKFURT:MR7) is pleased to announce that it has closed a non‐brokered private placement (the “Offering”) of an aggregate of 4,130,700 flow‐through shares (the “FT Shares”) at a price of $0.375 per FT Share, for aggregate gross proceeds of $1,549,013.
The aggregate gross proceeds of the Offering will be used by the Corporation to incur exploration expenses on its mining properties located in the province of Québec.
The Corporation paid to Red Cloud Klondike Strike Inc., acting as finder pursuant to the Offering (the “Finder”) in consideration for the services rendered in connection with the Offering, an aggregate cash commission of $92,940.78 and aggregate number of 247,842 finder’s options entitling its holder to purchase up to 247,842 common shares in the capital stock of the Corporation, at a price of $0.375 per common share, within a delay of 24 months after the closing of the Offering.
All securities issued pursuant to this Offering are subject to a restricted period of four months and a day, ending on March 17, 2018 under applicable Canadian securities legislation.
This press release does not constitute an offer of securities for sale in the United States or to “U.S. persons” (“U.S. persons”), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.
ABOUT MONARQUES GOLD CORPORATION
Monarques Gold Corp (TSX-V: MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns more than 240 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video) and Wasamac advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,200 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques’ actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither 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 press release.