VANCOUVER, BC--(Marketwired - July 11, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MARIFIL MINES LTD. (TSX VENTURE: MFM) (the "Company") announces that the non-brokered private placement offering of up to 2,700,000 units at $0.015 per unit for gross proceeds of up to $40,500 has been increased to 6,996,800 units at $0.015 per unit for gross proceeds of up to $104,952 subject to final Exchange approval. Each unit will consist of one common share and one warrant. Each warrant will entitle the holder to acquire an additional common share 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, subject to accelerated expiry in the event the Company's shares trade at $0.20 per share for a period of twenty (20) consecutive trading days after expiry of the 4-month hold period. Closing of the private placement is anticipated to be on July 30, 2016.
All units issued pursuant to this placement will be subject to a four month hold period from the date of issuance.
Proceeds from the placement will be used for audit, legal, property maintenance, and general working capital. The private placement is subject to the approval of the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Marifil Mines Ltd. "Marifil", has taken all reasonable care in producing and publishing information contained in this news release, and will endeavor to do so on a periodic basis. Material in this news release may still contain technical or other inaccuracies, omissions, or typographical errors, for which Marifil assumes no responsibility. Marifil does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.
This news release may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.