SOURCE: American Magna Corp.
HENDERSON, NV--(Marketwired - November 04, 2013) - American Magna Corp. (OTCBB: AMGC) is pleased to provide a corporate update for its shareholders.
On August 26th, 2013 American Magna finalized their acquisition of 100% mining rights to the Bell Flat Project located approximately 15 miles north of Gabbs in Churchill County, Nevada. The project has elevated magnesium values in soil samples associated with a geologic setting similar to a nearby producing magnesium mine.
On October 18th, 2013, American Magna closed a public offering of 14,950,000 shares at $0.01 per share for a total of $149,500 raised.
"The past few months have been very busy for our company," says American Magna Corp. president Herb Duerr. "Acquiring the Bell Flat Project and the close of the initial round of financing places us in a very good position to immediately start work on our property." Initial work plans for the Bell Flat Project include geological mapping and sampling which will assist in evaluating the potential of the project and determine the next phase of exploration.
About American Magna Corp.
American Magna Corp. is a U.S. based magnesium exploration and development company. American Magna is publically traded on the OTCBB.
Forward Looking Statements
Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's website at http://www.sec.gov.