CALGARY, ALBERTA--(Marketwired - Jan. 21, 2014) - Margaux Resources Ltd. ("Margaux" or the "Corporation") (TSX VENTURE:MRL) is pleased to announce that it has completed the second tranche of its previously announced non-brokered public offering of common shares issued at a price of $0.08 per share. The Corporation issued an additional 4,750,000 shares at closing for aggregate gross proceeds of $380,000. Total proceeds raised under the offering were $750,000. The securities issued under the private placement are subject to a resale restriction period of four months and one day.
Margaux will use a portion of the proceeds from the private placement for its initial required payment due to Sultan Minerals Ltd. on the previously announced option agreement for the Jersey Emerald Tungsten-Zinc Property (the "Property"), located in southeastern B.C. once all requisite approvals have been received by Corporation for the option agreement.
About Margaux Resources Ltd.
Margaux is based in Calgary, Alberta and a publicly traded resource company with oil and gas exploration and production and an option on the Jersey Emerald Tungsten-Zinc Property (pending TSX Venture Exchange and shareholder approval of Margaux). The current projects are the Jumpbush oil and gas production in south eastern Alberta and the Jersey Emerald Tungsten-Zinc Property, located in southeastern B.C.
ADVISORY: This press release contains forward looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the offering and the required approvals for the Sultan option agreement. Although Margaux believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Margaux can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The intended use of the net proceeds of the offering by Margaux might change if the board of directors of Margaux determines that it would be in the best interests of Margaux to deploy the proceeds for some other purpose.
The forward looking statements contained in this press release are made as of the date hereof and Margaux undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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 press release.