Mexus Gold US to Raise Funds to Resume Trading
Today 8:02 AM ET (Accesswire)Print
CABORCA, MEXICO / ACCESSWIRE / January 29, 2024 / Mexus Gold US (OTCQB:MXSG) ("Mexus" or the "Company) is pleased to announce its' intent to raise $250,000 US, the estimated amount to pay for its currently outstanding but completed audits bringing Mexus back into compliance with the OTCQB exchange, paying for outstanding claim taxes, and general and administration purposes. The raise will be done by a private placement memorandum offering units in Mexus of one common share at $.005 per share US and a warrant for each share purchased, exercisable at $.015 per share of common stock for up to 24 months from issuance. There are no placement fees associated with the raise. The minimum subscription is $5,000.
Mexus plans to engage a recognized US 3rd party engineering firm to recommend and oversee QA/QC, along with a Certified lab in the Reno area, and report on the results of a to be planned 8 RC drill hole program with 100 meter depth holes resulting in an expected US SK-1300 SEC compliant inferred (or better) resource report in the area previously test mined by Mexus.
Mexus President and CEO Paul Thompson added, "In the past three years Mexus has opened three test pits with a gold average of 1.5 grams AU per ton of approximately 10,000 tons which were heap leached using carbon in pulp recovery at approximately 70% recovery producing $433,000 dollars US in audited gold sales. With the historical information, assays, and the test mining that has been completed we believe we can develop a resource in excess of one million ounces of gold. The Santa Elena is located near the huge Fresnillio Herradura open pit and on strike with that deposit. With the rising price of gold the timing could not be better and we feel the company has never been more undervalued."
Mexus is open to mutually acceptable opportunities with other mining companies.
