Marifil Mines Ltd.
TSX VENTURE : MFM

Marifil Mines Ltd.

November 04, 2015 14:57 ET

Marifil Mines Ltd. Announces Closure of Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 4, 2015) - Marifil Mines Limited (TSX VENTURE:MFM) ("Marifil" or the "Company") is pleased to announce that it has completed and closed the previously announced private placement, consisting of 10,000,000 units (the "Units") at $0.01 per unit for gross proceeds of up to $100,000 subject to final Exchange approval. Each unit consists of one common share of the Company and one common share purchase warrant exercisable at a price of $0.05 per share for the first 24 months from the date of issuance and $0.10 for the next 36 months. All units issued are subject to a four-month hold period ending on March 4, 2016.

Proceeds from the placement will be used for audit, legal, property maintenance, general working capital, and due diligence costs related to the potential limestone asset sale.

On Behalf of the Board of Directors,

John Hite, President

For further information regarding Marifil Mines Limited, please refer to the Company's filings available on SEDAR (http://www.sedar.com) or at Marifil's Website (http://www.marifilmines.com).

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Forward-Looking Statements

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