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Margaux Resources Ltd. Closes First Tranche of Public Offering

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January 16, 2014

Margaux Resources Ltd. (TSXV: MRL) closed the first tranche of its previously announced, non-brokered public offering of common shares issued at eight cents per share, the company said Jan. 15. The 4,625,000 issued shares closed at CA $370,000 in aggregate gross, the company added. 

The securities also issued under the private placement are subject to a resale restriction period of four months and one day, the company said.

A portion of the proceeds will fund Margaux’s initial payment to Sultan Minerals Inc. (TSXV: SUL.V) on the previously announced option agreement ...

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