Vancouver, BC – September 25, 2014 – Corex Gold Corp. (the "Company") is pleased to announce that it has closed the non-brokered private placement for 7,750,000 units (the "Units") at a price of $0.08 per Unit (the "Financing"). Each Unit consists of one common share and one share purchase warrant (the "Warrant"). Each Warrant entitles the holder to subscribe for one common share at a price of $0.15 for a period of twenty four (24) months following the closing of the Financing.
The net proceeds from the issuance of the Units of the Financing will be used by the Company for expenditures on the Company's Santana Project in Mexico.
Finders' fees of 7% on a portion of the gross proceeds received by the Company from the sale of Units sold pursuant to the Financing shall include cash of ($5,600), 472,500 compensation shares, and 70,000 warrants ("Agent Warrants"). Each Agent Warrant shall be exercisable in whole or in part at an exercise price of $0.15 for a period of 24 months from the closing of the Financing.
All securities issued pursuant to the Financing will be subject to a four month and one day hold period from the date of closing of the Financing.
About Corex Gold Corp
Corex Gold Corp is a Canadian resource company focused on the acquisition, exploration, and development of precious/base metal deposits in Mexico including its 100% owned flagship property, the Santana Project, which is in Sonora State, Mexico. In addition, Goldcorp Inc. has implemented an on-going exploration program on Corex's 100% owned Zuloaga property in Zacatecas State, Mexico.
ON BEHALF OF THE BOARD
"Craig D. Schneider"
President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Craig Schneider,
President & CEO
Tel: 604.683.2505
Fax: 604.683-2506
E-mail: [email protected]
Website: www.corexgold.com
Cautionary Statement:
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." The foregoing information may contain forward-looking statements relating to the future performance of Corex Gold Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Corex Gold Corp.'s filings with the appropriate securities commissions.
