info@mxgoldcorp.com Share Structure
| Shares Outstanding | 204,253,918 |
| Options Average | 7.4 M @ 0.16 |
| Warrants | 79.4 M $ 0.29 |
| Fully Diluted Shares: | 291,053,918 |
Oct 13, 2017 MX Gold signs LOI to Acquire Cryptocurrency/Blockchain Mining Company Based in Manitoba
MX Gold signs LOI to Acquire Cryptocurrency/Blockchain Mining Company Based in Manitoba
VANCOUVER, British Columbia, Oct. 13, 2017 (GLOBE NEWSWIRE) -- MX Gold Corp. (TSX-V:MXL) (FSE:0DV) (OTCQX:MXLGF) (the “Company” or “MX Gold”) is pleased to announce that the Company has entered into a letter of intent (the “Agreement”) to acquire all of the shares of Symple Internet Financial Ltd. (“Symple”), an arm’s length private British Columbia cryptocurrency/blockchain mining company based in Manitoba. The proposed acquisition is the Company’s first foray outside the mineral exploration space and is intended to be a pilot project to determine whether further investment in the growing cryptocurrency industry is warranted. The Company has had preliminary discussions about the proposed transaction with the TSX Venture Exchange (the “Exchange”) and anticipates that it will proceed as a Reviewable Transaction but not a Change of Business in accordance with Exchange policies.
Pursuant to the terms of the Agreement, the Company has agreed to pay $150,000 and issue 4.5 million shares to the shareholder of Symple in consideration for all of the shares thereof. The closing of the transaction is subject to customary conditions precedent, including approval by the Exchange and the entry into a consulting agreement with the principal shareholder and executive of Symple for a minimum term of 12 months for compensation of $8,000 per month. The Agreement contemplates that a definitive agreement will be entered into on or before November 1, 2017 and closing will occur on or before December 1, 2017.
Symple operates a cryptocurrency/blockchain mining operation in a 5,000 sq. ft. leased facility in Manitoba with the possibility to expand in the future under current leases. Symple has been successfully operating in the cryptocurrency business for approximately 1 year.
Dan Omeniuk, CEO of the Company stated, “The blockchain space is growing and has the power to change the way finances are conducted globally. We are excited to have the opportunity to work with Albert Buu, the founder of Symple, who has a vast knowledge in the blockchain space and his educational background in computer engineering.”
In other corporate news, the Company confirms that it has received final Exchange approval for the $4 million equity financing that closed on September 9, 2017, as further disclosed in its news release of even date.
About MX Gold
MX Gold is a junior mining company focused on the exploration and development of advanced projects located in Mexico and British Columbia, Canada. The company’s primary focus, is the Magistral del Oro tailings project located 392 km SW of Chihuahua and includes a 500 tonnes-per-day dynamic cyanide countercurrent system plant constructed in 2013, which the Company plans to expand to 1,000 tonnes-per day. The Company also owns 50% of the IDS Project, which includes a smelter that was completed in 2014 for a throughput capacity of 50 tonnes per day. The smelter was built to receive and process material from small-scale miners across the state of Durango and beyond. MX Gold has acquired a substantial land package of approximately 22,881 acres in the heart of the Golden Triangle. The Company’s primary focus in British Columbia is its Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. The Willa mine is located 135 kilometers south of the Max Mill. MX Gold Corp. can also elect to reopen the Max Molybdenum mining operation once world Moly prices improve. For updates on the Company’s projects please visit our website. www.mxgoldcorp.com
On behalf of the Board of Directors,
“Akash Patel”
Akash Patel, Vice President and Director, MX Gold Corp.
For further information, please contact
Dan Omeniuk, CEO Email: dano@mxgoldcorp.com
Or by email to:
info@mxgoldcorp.com
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", “potential”, "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include the anticipation of entering into and closing a definitive agreement with respect to the acquisition of Symple and the possibility of expanding the number of units operated by such company. All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation: the Company’s ability to enter into and close the definitive agreement and acquire Symple; the ability to obtain Exchange approval with respect to the transactions; MX Gold’s ability to attract and retain qualified personnel and management, including the proposed consulting agreement with Mr. Buu; and the ability of the Company to fund its operations, as well as other risks and uncertainties identified under the heading “Risk Factors” in the Company’s continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. MX Gold cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management’s assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and MX Gold does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
Source: MX Gold Corp.
© 2017 GlobeNewswire, Inc.
Oct 18, 2017 MX Gold Initiates Due Diligence including Site Visit of Symple, a Proposed Cryptocurrency/Blockchain Mining Target Company Based in Manitoba
MX Gold Initiates Due Diligence including Site Visit of Symple, a Proposed Cryptocurrency/Blockchain Mining Target Company Based in Manitoba
VANCOUVER, Oct. 18, 2017 /PRNewswire/ - MX Gold Corp. (TSX-V: MXL) (FSE: ODV) (OTCQX: MXLGF) (the "Company" or "MX Gold") is pleased to announce that CEO Dan Omeniuk and his technical team have completed a site visit and initiated a due diligence review of Symple Internet Financial Ltd. ("Symple"), an arm's length private British Columbia company based in Manitoba. As disclosed in a news release dated October 13, 2017, MX Gold has entered into a letter of intent to acquire all of the shares of Symple.
Dan Omeniuk describes Albert Buu, the principal of Symple, as a trailblazer in the blockchain/crypto currency mining sector who anticipated future opportunities in the growing industry, including the growth of crypto currencies as an asset class for financial diversification by industry participants. Symple operates in a 5,000 square foot leased facility in Manitoba with the possibility to expand in the future under current leases. As part of its due diligence, MX Gold is modelling potential expansion of the existing site which benefits from having access to highspeed internet access and making sure there is ample cooling and ventilation in the building and most importantly, very competitive energy costs.
CEO Dan Omeniuk comments, "We are excited at the prospect of working with Albert Buu in connection with the acquisition of Symple. We are currently negotiating the definitive agreement and finalizing due diligence on the proposed transaction. Personally, I am also looking forward to working with Albert Buu in Manitoba, a place where I've done business for nearly 40 years. I truly believe that the sector can provide our shareholders with a unique angle to differentiate ourselves from other mining companies."
About MX Gold
MX Gold is a junior mining company focused on the exploration and development of advanced projects located in Mexico and British Columbia, Canada. The company's primary focus, is the Magistral del Oro tailings project located 392 km SW of Chihuahua and includes a 500 tonnes-per-day dynamic cyanide countercurrent system plant constructed in 2013, which the Company plans to expand to 1,000 tonnes-per day. The Company also owns 50% of the IDS Project, which includes a smelter that was completed in 2014 for a throughput capacity of 50 tonnes per day. The smelter was built to receive and process material from small-scale miners across the state of Durango and beyond. MX Gold has acquired a substantial land package of approximately 22,881 acres in the heart of the Golden Triangle. The Company's primary focus in British Columbia is its Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. The Willa mine is located 135 kilometers south of the Max Mill. MX Gold Corp. can also elect to reopen the Max Molybdenum mining operation once world Moly prices improve. For updates on the Company's projects please visit our website. www.mxgoldcorp.com
On behalf of the Board of Directors,
"Akash Patel"
Akash Patel, Vice President and Director, MX Gold Corp.
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include the anticipation of entering into and closing a definitive agreement with respect to the acquisition of Symple. All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation: the Company's ability to enter into and close the definitive agreement and acquire Symple; the ability to obtain Exchange approval with respect to the transactions; MX Gold's ability to attract and retain qualified personnel and management, including the proposed consulting agreement with Mr. Buu; and the ability of the Company to fund its operations, as well as other risks and uncertainties identified under the heading "Risk Factors" in the Company's continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. MX Gold cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and MX Gold does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE MX Gold Corp.
Nov 13, 2017 MX Gold Purchases Cryptocurrency Bitcoin Miners; Elects not to proceed with Symple Acquisition
MX Gold Purchases Cryptocurrency Bitcoin Miners; Elects not to proceed with Symple Acquisition
VANCOUVER, British Columbia, Nov. 13, 2017 (GLOBE NEWSWIRE) -- MX Gold Corp. (TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF) (the “Company” or “MX Gold”) is pleased to announce it has purchased 360 crypto currency mining systems as part of the Company’s pilot project in the cryptocurrency mining space. The Company has ordered 360 units of the Avalon Miner 741 cryptocurrency mining system, made by Canaan Creative Co., which units are expected to be delivered on or about November 20, 2017. Assuming timely delivery, management expects to commence cryptocurrency mining operations by mid-December. To house the cryptocurrency mining operations for this pilot project, MX Gold is currently negotiating a 15,680 sq.ft. lease (the “Proposed Lease”) with 3409377 Manitoba Ltd. for premises located at 900 Fisher Avenue, La Portage, Manitoba, and access to 2.5 MW of power. The Proposed Lease will enable the Company to take advantage of competitive power rates, which are 5.4 cents CDN per kWh.
Since 3409377 Manitoba Ltd. is a company wholly-owned by Dan Omeniuk, CEO of MX Gold, the Proposed Lease is considered a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Proposed Lease is exempt from the formal valuation requirement under Section 5.4 of MI 61-101, by virtue of the exemption contained in section 5.5(a) of MI 61-101, and from the minority shareholder approval requirement under MI 61-101, by virtue of the exemption contained in section 5.7(a) of MI 61-101, as the fair market value of the consideration under the Proposed Lease does not exceed 25% of the Company’s market capitalization.
For additional information on the Avalon Miner 741, please see the following link: https://canaan.io/product/avalonminer-741/
Dan Omeniuk, CEO of MX Gold, stated, "Our company is looking forward to developing a pilot project involving a cryptocurrency mining operation to determine whether further investment in the growing cryptocurrency industry is warranted.”
Additionally, MX Gold has decided not to proceed with the Letter of Intent for the acquisition of Symple Internet Financial Ltd., which terminated in accordance with its terms on November 6, 2017. The Company has instead determined to internally develop its own pilot cryptocurrency mining operations located in Manitoba, as disclosed above.
Dan Omeniuk also stated “MX’s decision to take on this project internally will result in reduced dilution to shareholders, as MX will no longer be required to issue shares in connection with the purchase of Symple”.
For more information on cryptocurrency, please see the following link:
https://clients.haywood.com/uploadfiles/secured_reports/BCOct242017.pdf?inf_contact_key=579b43223c79ee11357ecfc6b62ebaae942374871c40ac756f37211bcc125ddb
About MX Gold
MX Gold is a junior mining company focused on the exploration and development of advanced projects located in Mexico and British Columbia, Canada. The company’s primary focus, is the Magistral del Oro tailings project located 392 km SW of Chihuahua and includes a 500 tonnes-per-day dynamic cyanide countercurrent system plant constructed in 2013, which the Company plans to expand to 1,000 tonnes-per day. The Company also owns 50% of the IDS Project, which includes a smelter that was completed in 2014 for a throughput capacity of 50 tonnes per day. The smelter was built to receive and process material from small-scale miners across the state of Durango and beyond. MX Gold has acquired a substantial land package of approximately 22,881 acres in the heart of the Golden Triangle. The Company’s primary focus in British Columbia is its Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. The Willa mine is located 135 kilometers south of the Max Mill. For updates on the Company’s projects please visit our website. www.mxgoldcorp.com
On behalf of the Board of Directors,
“Akash Patel”
Akash Patel, Vice President and Director, MX Gold Corp.
For further information, please contact
Dan Omeniuk, CEO Email: dano@mxgoldcorp.com
Or by email to:
info@mxgoldcorp.com
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", “potential”, "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include the anticipated delivery dates of the mining units, the anticipated date that such units will be operational and the statement about developing a cryptocurrency mining pilot project. All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation: the Company’s ability to successfully receive and install the mining units and operate the pilot plant; MX Gold’s ability to attract and retain qualified personnel and management; and the ability of the Company to fund its operations, as well as other risks and uncertainties identified under the heading “Risk Factors” in the Company’s continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. MX Gold cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management’s assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and MX Gold does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
Source: MX Gold Corp.
© 2017 GlobeNewswire, Inc.
Jan 8, 2018 MX Gold Acquires 360 AvalonMiner 741 Cryptocurrency Mining Rigs MX Gold Purchases 360 AvalonMiner 741 Cryptocurrency Mining Rigs
Vancouver, British Columbia, Jan. 08, 2018 (GLOBE NEWSWIRE) -- MX Gold Corp. (TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF) (the “Company” or “MX Gold”) is pleased to announce, further to its news release dated November 13, 2017, the delivery of 360 AvalonMiner 741 cryptocurrency mining systems (each, a “Mining Rig”), purchased from Canaan Creative Co. The purchase of the Mining Rigs equips the Company with a fleet of state of the art, digital currency extraction hardware. Each Mining Rig contains 88 x A3212 16 nm ASIC chips and boasts an in field Reliable Hashrate Per Second (RTHS) of up to 7.8. The Mining Rigs are housed in high-grade aluminum cases and employ innovative Airforming Cooling Technology, allowing more efficient heat dissipation. Coupled with access to contracted low-cost energy sources, the Company expects that the Mining Rigs set up will result in a competitive digital currency extraction environment.
For additional information on the AvalonMiner 741, please see the following link: https://canaan.io/product/avalonminer-741/
Dan Omeniuk, CEO of MX Gold, stated, "Our company is looking forward to developing a pilot project involving a cryptocurrency mining operation to determine whether further investment in the growing cryptocurrency industry is warranted.”
The Company is excited to have the Mining Rigs landed and onsite, and is currently completing various testing procedures to ensure optimal operating efficiencies. The Company will disclose in upcoming announcements when the Mining Rigs are installed and fully operational.
For more information on cryptocurrency, please see the following link:
https://clients.haywood.com/uploadfiles/secured_reports/BCOct242017.pdf?inf_contact_key=579b43223c79ee11357ecfc6b62ebaae942374871c40ac756f37211bcc125ddb
About MXMX Gold is a junior mining company focused on the exploration and development of advanced projects located in Mexico and British Columbia, Canada. The company’s primary focus, is the Magistral del Oro tailings project located 392 km SW of Chihuahua and includes a fully permitted, 500 tonne-per-day dynamic cyanide countercurrent system plant constructed in 2013. The company is currently expanding to 1000 tonne-per day which is scheduled to be completed by the 1st quarter of 2018. The Company also owns 50% of the IDS Project, which includes a fully permitted smelter that was completed in 2014 for a throughput capacity of 50 tonnes per day. The smelter was built to receive and process high-grade direct-ship ores and concentrates from small-scale miners across the state of Durango and beyond.
MX Gold Corp. is also focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico. The Company’s primary focus in British Columbia is its Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. This acquisition removed major costs and shortened timelines typically associated with mine project development. The Willa mine is located 135 kilometers south of the Max Mill. MX Gold Corp. can also elect to reopen the Max Molybdenum mining operation once world Moly prices improve. For updates on the Magistral Project please visit our website. www.mxgoldcorp.com
On behalf of the Board of Directors,
“Akash Patel”
For further information, please contact
Dan Omeniuk, CEOEmail: dano@mxgoldcorp.comOr at: info@mxgoldcorp.com
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", “potential”, "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include the expectation that, with access to contracted low-cost energy sources, the Mining Rigs set up will result in a competitive digital currency extraction environment, and statements respecting the future installation and operation of the Mining Rigs. All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation: that the Mining Rigs will not enable a competitive digital currency extraction environment; that the Company may not successfully install or render operational the Mining Rigs; that the Company may not be able to attract and retain qualified personnel and management; and that the Company may not be able to fund its operations, as well as other risks and uncertainties identified under the heading “Risk Factors” in the Company’s continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. MX Gold cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management’s assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and MX Gold does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
Source: MX Gold Corp.
© 2018 GlobeNewswire, Inc.