Month: March 2018

Alset Minerals Corp. announces that it will not be proceeding with the financing announced on January 16, 2018 but will, subject to the approval of the TSX Venture Exchange, undertake a non-brokered private placement of 8,000,000 units at a price of twelve cents per Unit for gross proceeds of up to $960,000. Each Unit shall be comprised of one common share in the capital of the Company and one half of a common share purchase warrant.

“This transaction is consistent with our strategy to create a leading mid-tier precious metals company,” said Greg McCunn, CEO of Alio Gold. “In addition to diversifying our asset base into one of the most attractive precious metal producing regions in the world, this transaction provides us with increased scale and liquidity to drive long term shareholder value. We see regional growth opportunities in Nevada and coupled with our high-grade, high-margin Ana Paula project, this transaction establishes a strong platform for future growth.”

First Majestic Silver Corp. announces that its board of directors has approved the extension of its share repurchase program pursuant to a normal course issuer bid in the open market through the facilities of the Toronto Stock Exchange or alternative Canadian market places over the next 12 months. Pursuant to the Share Repurchase, the Company proposes to repurchase up to 8,286,401 common shares of the Company which represents 5% of the 165,728,029 issued and outstanding shares of the Company as of March 12, 2018.

Colibri Resource Corporation is very pleased to announce that it has closed an over-subscribed second tranche on its previously announced financing. The Company has issued an additional 1,350,000 units at $0.10 per unit for gross proceeds of $135,000. Total gross proceeds raised between the first and second tranches is $1,212,098. The funds raised from this equity issuance will be used for Phase 1 of an infill and exploration drilling program at the Company’s Pilar Project in Sonora State, Mexico as well as for general working capital.

Geologix Explorations Inc. announces that it has granted incentive stock options to its employees, directors, officers and consultants to acquire an aggregate of 100,000 common shares until March 16, 2020 and 4,850,000 common shares until March 16, 2023, all at an exercise price of $0.05 per share.

Jorge A. Ganoza, President and CEO, commented, “Our results in the fourth quarter of 2017 reflect record sales and EBITDA that have contributed to our strongest year to date in financial performance.” Mr. Ganoza continued, “Annual sales of $268.1 million, with EBITDA margins of 46% and strong cash accumulation from our mines attest to the strength of our assets and the positive momentum in our business. Drivers for year over year performance are higher precious metal production, higher base metal prices for our by-products, and improved commercial terms. ” Mr. Ganoza concluded, “Our Lindero gold project in Argentina is in the early stages of construction with on-site activities ramping up during the course of the second quarter”.