MX Gold Signs Definitive Agreement to Sell Interest in Magistral Joint Venture and Announces Change of Officer
May 11, 2018
The Magistral Agreement is in addition to the other four previously disclosed binding agreements that collectively propose to sell the Companys entire mining portfolio in an arms length transaction to a private company for the aggregate purchase price of approximately CDN$14,952,000. The Company intends to use the funds to expand its existing and successful cryptocurrency mining pilot project of 360 mining units through the purchase of an additional 2,000 mining units under its existing lease arrangements located in Manitoba. The proposed sale of its mineral exploration assets and expansion of its cryptocurrency business will constitute a Change of Business as defined by the policies of the TSX Venture Exchange.
