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MGX Minerals raises further C$5.8M for Canadian exploration

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MGX Minerals raises further C$5.8M for Canadian exploration

MGX Minerals Inc. raised a further C$5.8 million via a two-tranche private placement of 5,526,908 flow-through units.

The company made the offer at the same time as its private placement of nonflow-through units, which raised C$7.1 million, for a total of C$12.9 million in proceeds.

MGX will use the proceeds from the flow-through placement for qualified mineral exploration expenses on the company's Canadian projects.