Today, MGX Minerals Inc. announced closing of the first tranche of its non-brokered private placement financing, with $6.3 million of the $7.5 million CAD already raised. The second and final tranche is anticipated to close until Friday, December 15.
According to the CSE, this first tranche includes heavy institutional investment such as from Sprott Asset Management (the leading resource fund in Canada) which increased its stake to a total of 2.9 million units.
Other funds also increased their positions, while several new institutional and private investors took a position for the first time.
One of the largest shareholders, the well-known Canadian investor Robert Hirschberg, increased its position to now 4 million units.
The proceeds of the financing will be used for the commercial deployment of MGX´s lithium extraction system as well as for exploration.
On the back of the many great news that this emerging lithium producer generated over the last weeks, the funds from this strategic financing will certainly speed up its production and exploration ventures.
The relatively fast closing of the first tranche without any broker support clearly demonstrate that existing and new shareholders strongly believe in MGX and its future that is about to materialize with the deployment of the first set of commercial systems for water purification and mineral extraction.
How many lithium companies do you know that are about to go into production?
With a current market capitalization of $81 million CAD, MGX is well positioned to create shareholder value.
MGX Revolutionizes the Lithium World - Commissions First Rapid Lithium Extraction System
It‘s history in the making for MGX Minerals Inc. announcing the partial commissioning of its first commercial-scale lithium recovery system called NFLi5 at its new manufacturing facility in Calgary, Alberta. Read the full article here.
Full Steam Ahead: MGX Engages Senator Polanco (Ret.) to Head California Lithium Brine Strategy
The world‘s largest producer of geothermal electricity is California, where possibly the greatest geothermal resources of the world are located. (Source)
After MGX Minerals Inc. made the striking announcement of having developed an environmentally friendly, proprietary, low energy, low cost process for ultra-high temperature geothermal brines, the next landmark announcement followed shortly thereafter. Read the full article with the following link:
MGX to Target Geothermal Market for Extraction of Lithium and Gold
MGX Minerals Inc. made a striking announcement of having solved another major energy problem globally. Together with its technology partner PurLucid Treatment Solutions Inc. they have developed a novel filtration technology for the purification of geothermal brines and the associated extraction of minerals and metals, including lithium, magnesium and gold. Read the full article here.
MGX Minerals Inc.
#303 - 1080 Howe Street
Vancouver, BC, Canada V6C 2T1
Phone: +1 604 681 7735
Shares Issued & Outstanding: 77,782,417
Canadian Symbol (CSE): XMG
Current Price: $1.04 CAD (12/08/2017)
Market Capitalization: $81 Million CAD
German Symbol / WKN (Frankfurt): 1MG / A12E3P
Current Price: €0.73 EUR (12/11/2017)
Market Capitalization: €57 Million EUR
Report #31 “MGX Revolutionizes the Lithium World - Commissions First Rapid Lithium Extraction System“
Report #30 “Full Steam Ahead: MGX Engages Senator Polanco (Ret.) to Head California Lithium Brine Strategy“
Report #29 “MGX to Target Geothermal Market for Extraction of Lithium and Gold“
Report #28 “MGX Minerals Commences Development of the World‘s First Petrolithium Field“
Report #27 “Canadian Government Backs MGX Minerals‘ Petrolithium Cleantech“
Report #26 “MGX Minerals Solves the Magnesium Problem of the Lithium Industry“
Report #25 “Hard-Rock Lithium Exposure for MGX“
Report #24 “One of the Largest Initial Oil Estimates in US History“
Report #23 “MGX starts Petrolithium pilot plant to deliver hard facts for strategic partners“
Report #22 “Time to bet: Sprott takes a position in MGX“
Report #21 “Petrolithium: First Come First Served“
Report #20 “Successful Independent Verification of the MGX Lithium Extraction Technology“
Report #19 “MGX to Drill the World‘s First PetroLithium Well in Utah“
Report #18 “MGX Reports Upgrading of Lithium Brine from 67 to 1600 ppm Lithium“
Report #17 “MGX technology nominated for prestigious Katerva Award, the Nobel Prize of Sustainability“
Report #16 “Unconventional oil play legend Marc Bruner to take MGX and PetroLithium to the next level“
Report #15 “Total Conviction: MGX forms PetroLithium Corp. to expand into the US oilfield brine markets“
Report #14: “MGX Extracts Lithium from Oil Wastewater - Begins Monumental Integration with Big Oil“
Report #13 "MGX Partners with Oil Major on Lithium Brine, New Energy Industry Facing Fundamental Shift“
Report #12 "Game Changing Potential: MGX Minerals‘ Pilot Plant for Rapid Production of Lithium Nears Completion“
Report #11 "MGX assays 34 g/t gold from surface sampling in British Columbia“
Report #10 “Official: MGX owns magnesium worth multi-billions of dollars and starts pilot plant shortly“
Report #9 “One of the world‘s largest lithium resources on the horizon?“
Report #8 “Ready for significant lithium brine work in Alberta“
Report #7 “At the forefront of Alberta‘s lithium brine riches“
Report #6 “Pioneering Lithium in Alberta: MGX Minerals Teams Up“
Report #5 “Time to Put a Lithium Production Process in Place“
Report #4 “MGX Minerals Taps Into Canada‘s Potentially Largest High-Grade Lithium Resources“
Report #3 “MGX Minerals Receives Mining Lease for 20 years (in British Columbia!)“
Report #2 “MGX Minerals Accelerates Towards Production“
Report #1 “MGX Minerals Plans To Enter The Magnesium Market“
Disclaimer: Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. The author hold a long position in MGX Minerals Inc. and is being paid a monthly retainer from Zimtu Capital Corp., which company also holds a long position in MGX Minerals Inc.