News

June 14, 2016

Marifil Mines Ltd Announces Non-Brokered Private Placement

VANCOUVER, B.C.---MARIFIL MINES LTD. (TSX-V: MFM)("Marifil" or "the Company") is pleased to announce a private placement of up to 2,700,000 units at $0.015 per unit for gross proceeds of up to $40,500 subject to final Exchange approval. Each unit will consist of one common share and one warrant. Each warrant will entitle the holder to acquire an additional common share at a price of $0.05 per share for the first 24 months from the date of issuance and $0.10 for the next 36 months, subject to accelerated expiry in the event the Company's shares trade at $0.20 per share for a period of twenty (20) consecutive trading days after expiry of the 4-month hold period. Closing of the private placement is anticipated to be on July 15, 2016.

All units issued pursuant to this placement will be subject to a four month hold period from the date of issuance.

Proceeds from the placement will be used for audit, legal, property maintenance, and general working capital. The private placement is subject to the approval of the TSX Venture Exchange.

For further information please contact:

 

 

Head Office:
John Hite, President
Phone: 702.562.4880
Email: info@marifilmines.com
Website: www.marifilmines.com

Investor Relations:
Hugh Oswald,
Phone: 604.838.2855
Email: hoswald@marifilmines.com

 

 

For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (http://www.sedar.com) or at Marifil's Website (http://www.marifilmines.com.)



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Forward-Looking Statements


This news release may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.