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Margaux Resources

Margaux Resources Ltd. Closes Shares…...

Margaux Resources Ltd. Closes Shares for Debt Transaction and Issuance of Promissory Note

PR-2016 / April 13, 2016

CALGARY, AB, April 13, 2016 – Margaux Resources Ltd. (TSX VENTURE:MRL) (“Margaux” or the “Corporation”) announces that its previously announced shares for debt application has been approved by the TSX Venture Exchange and an aggregate of 173,592 common shares (“Common Shares”) of Margaux at a deemed price of $0.20 per Common Share have been issued to certain of Margaux’s service providers. With the issuance of the Common Shares pursuant to the shares for debt application, the debts owing to such service providers, in the amount of $34,718.50, have been fully extinguished.

The Common Shares issued pursuant to this transaction will be subject to a hold period of 4 months and one day from the date of issuance.

Additionally, Margaux confirms that it has received approval from the TSX Venture Exchange for the issuance of its previosuly announced unsecured promissory note (the “Note”) of the Corporation to an arm’s length third party. Pursuant to the Note, the Corporation may advance up to $180,000 to be used for the payment of certain option payments (the “Option Payments”) between April 1, 2016 and March 31, 2017 pursuant to the Corporation’s option agreement dated November 8, 2013 between Sultan Minerals Inc. and Margaux, as amended on each of January 22, 2014, October 26, 2015, December 31, 2015, February 11, 2016 and March 30, 2016. The Note bears interest at a rate of 7.5% per annum, payable in arrears on the first business day of the following calendar month, and shall be payable in cash on or before March 31, 2017 (the “Repayment Date”). On the Repayment Date, at the sole option of the holder of the Note, the principal amount of the Note may be repaid by conversion into Common Shares at a value of $0.25 per Common Share or by a combination of cash and Common Shares. Any accrued but unpaid interest on the Note shall be payable in cash unless otherwise agreed between the Corporation and the holder of the Note and subject to applicable regulatory approvals.

About Margaux Resources Ltd.: Margaux is a publicly traded mineral exploration company based in Calgary, Alberta. The Corporation has an option on the previously producing Jersey Emerald tungsten-zinc mine, located in southeastern British Columbia.

For further information, please contact:

Tyler Rice
President, CEO and a Director
(403) 537-5590

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 press release.

Cautionary Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws.  The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. In particular, but without
limiting the forgoing, this news release contains statements concerning the use of advances from draws on the Note and the timing and form of repayment of the Note.

© 2019 Margaux Resources Ltd. | Legal
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The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this website. Statements in this presentation other than purely historical information including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. This website contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results might vary materially from those described in this website. Readers should verify any & all claims and do their due diligence before investing in any securities mentioned. Investing in securities is speculative and carries a high degree of risk.
Linda Caron , P.Eng., VP Exploration  is a “Qualified Person” as defined under NI 43-101 has reviewed and approved the technical content of this website