Mexican Gold Closes Non-Brokered Private Placement

Executive Summary

• Mexican Gold Mining Corp. closed a non‑brokered private placement raising $850,000 through the issuance of 10,000,000 units at $0.085 per unit.
• Each unit consists of one common share and one transferable warrant exercisable at $0.12 until November 14, 2028.
• Proceeds will be used as working capital for general corporate purposes; the offering was approved by the board and is subject to TSX Venture Exchange final acceptance.

Key Details

• Units issued: 10,000,000 (each = 1 common share + 1 warrant)
• Price per unit: $0.085 → Gross proceeds: $850,000
• Warrant terms: Exercise price $0.12; exercisable until 14 Nov 2028 (3‑year term).
• Hold period: All securities subject to a hold period expiring 15 Mar 2026 (≈4 months after issuance).
• Insider participation: Chairman John Anderson purchased 550,000 units for $46,750; treated as a related‑party transaction under MI 61‑101.
• Board approval: Offering unanimously approved by the Board of Directors.
• Use of proceeds: Working capital for general corporate purposes (no specific project allocation disclosed).
• No finder's fees were paid in connection with the offering.
• Restrictions on warrant exercise: Prohibits holders from owning >9.99% of outstanding shares immediately after exercising warrants, either individually or jointly with affiliates.

Notable Quotes

(None provided in the release)