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MONTREAL, April 26, 2019 /CNW/ - MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX: MQR) (OTC-PINK: MRQRF) (FRANKFURT: MR7) is pleased to announce that it has closed a second and final tranche of a non‐brokered private placement (the "Offering") for total gross proceeds of $2 million. This second tranche resulted in the issuance of an aggregate of 2,424,242 flow‐through shares (the "FT Shares") at a price of $0.33 per FT Share, for gross proceeds of $800,000.
The aggregate gross proceeds of the Offering will be used by the Corporation to incur exploration expenses on its mining properties located in the province of Québec.
All securities issued pursuant to this Offering are subject to a restricted period of four months and a day, ending on August 27, 2019, under applicable Canadian securities legislation.
This press release does not constitute an offer of securities for sale in the United States or to "U.S. persons" ("U.S. persons"), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.
ABOUT MONARCH GOLD CORPORATION
Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor Mine, the Croinor Gold (see video), McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as other promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.
Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Monarch Gold Corporation
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