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:
John Hite, President
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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