QMX GOLD UPSIZES PREVIOUSLY ANNOUNCED BOUGHT DEAL BY 15%
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES
(All figures in Canadian dollars unless otherwise stated)
September 14, 2017 - QMX Gold Corporation (QMX or the Company) (TSXV:QMX) is
pleased to announce that it has amended the terms of its previously announced agreement with a
syndicate of underwriters led by Mackie Research Capital Corporation (collectively the
Underwriters) pursuant to which Mackie has agreed to increase the size of the private
placement offering to $5,750,000 (the Offering).
The Offering will consist of a combination of (a) 8,076,923 units of the Company ("Units") at a
price of $0.26 per Unit and (b) 11,774,194 flow-through shares of the Company ("Flow-Through
Shares") at a price of $0.31 per Flow-Through Share.
Each Unit will consist of one Common Share of QMX and one-half of one common share
purchase warrant (each whole warrant a "Warrant") of QMX. Each full Warrant will entitle the
holder thereof to purchase one Common Share of the Company at a price of $0.35 per Common
Share, for a period of 24 months following the Closing Date.
The Company has granted the Underwriter an over-allotment option, on the same terms and
conditions as the Offering, to be exercisable at any time prior to the closing of the Offering, to
purchase up to an additional 15% of the Units and Flow-Through Shares of the Company.
The Company intends to use the net proceeds from the Offering to fund the Company's current
exploration activities on its Val-d'Or Mining Camp located in Québec and for general working
capital purposes.
The gross proceeds received by the Company from the sale of the Flow-Through Shares will be
used to incur Canadian Exploration Expenses ("CEE") that are "flow-through mining
expenditures" (as such term is defined in the Income Tax Act (Canada)) on the Company's
properties in Québec, which will be renounced to the subscribers with an effective date no later
than December 31, 2017, in the aggregate amount of not less than the total amount of the gross
proceeds raised from the issuance of Flow-Through Shares.
The closing of the Offering is expected to occur on or about September 28, 2017 (the "Closing
Date") and is subject to the receipt of regulatory approvals, including the approval of the TSX
Venture Exchange. The securities issued under this Offering will be subject to a statutory hold
period ending four months and one day from the Closing Date.
In connection with the Offering, the Corporation has agreed to pay the Underwriters a cash
commission equal to 6.0% of the gross proceeds of the Offering and issue that number of
warrants ("Broker Warrants") as is equal to 6.0% of the aggregate number of Units and FlowThrough
Shares purchased under the Offering.