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Margaux Resources Announces Closing of Non-Brokered Private Placement of Flow-Through Units and Units and issuance of Promissory Note

Margaux Resources Announces Closing of Non-Brokered Private Placement of Flow-through Units and Units and issuance of Promissory Note

Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company” is pleased to announce the issuances of:

    • 2,375,000 units (“Units”) of the Company at a price of $0.08; and
    • 3,000,000 flow-through units (“Flow-Through Units”) at a price of $0.10 per Flow-Through Unit
    • a $210,000 principal sum unsecured promissory note (the “Note”), for aggregate gross proceeds of
      $700,000.

Units and Flow-Through Units
The previously announced non-brokered private placement (the “Offering”) is subject to receiving final regulatory
approvals.

Each Unit consists of one common share in the capital of the Company ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Flow-Through Unit consists of one Common Share issued on a "CEE flow-through" basis pursuant to the Income Tax Act (Canada) and one-half of one Warrant. Each Warrant will entitle the holder to acquire one Common Share (each a "Warrant Share") at an exercise price of $0.12 per Warrant Share until 4:30 pm (Mountain Standard time) on that date that is 24 months from the issuance closing date, subject to accelerated expiry, if the 20-day Volume Weighted Average Price of the Common Shares on the TSX Venture Exchange exceeds $0.20 per share.

The securities issued pursuant to the Offering are subject to a four month hold period under applicable securities laws.

Note
The Company issued a $210,000 Note to an arm’s length third party. Pursuant to the Note, the Company promises to pay the $210,000 on demand and to pay interest on the principal sum at a rate of six percent (6%) per annum.

The aggregate gross proceeds of $700,000 raised pursuant to the Offering and the Note will be used to pursue the Company’s ongoing exploration and drilling programs and for general working capital.

About Margaux Resources Ltd.
Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration company focused on gold exploration in British Columbia, and is directed by a group of highly successful Canadian business executives.

Forward Looking Statements
This press release may contain forward looking statements including those describing Margaux's future plans and
the expectations of management that a stated result or condition will occur. Any statement addressing future
events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from
those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux's exploration plans and work commitments, the use of proceeds of the Offering and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly
required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services  provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


CONTACT INFORMATION

Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590
[email protected]