Mega Precious Metals Inc MPRXF

Like I said ...

[u2bob]

...they going like hot cakes...

 

Mega Precious increases private placement to $5-million

2014-06-25 16:19 ET - News Release

 

Mr. Glen Kuntz reports

MEGA PRECIOUS METALS ANNOUNCES UPSIZING OF PRIVATE PLACEMENT TO UP TO $5.0 MILLION DUE TO INCREASED DEMAND

Mega Precious Metals Inc., due to demand, has increased the size of its non-brokered private placement previously announced on June 17, 2014, to gross proceeds of up to $5-million.

Glen Kuntz, President and CEO commented "Mega is encouraged by the demand from current and new investors. The winter 2014 drill program has been successful at defining high grade near surface gold and tungsten mineralization. We will continue to work to add value to the Monument Bay Gold-Tungsten Project throughout 2014 with the objective of completing ongoing drilling, an updated mineral resource estimate, further metallurgical testing and environmental/engineering studies. We are grateful to have the support of numerous key investors as we continue to develop and de-risk the project".

The terms of the Offering are units at a price of $0.11 per unit (the "Non-Flow-Through Units") and flow-through units at a price of $0.12 per flow-through unit (the "Flow-Through Units). Each Non-Flow-Through Unit will consist of one common share of the Company and one-half of one warrant (each a "Warrant") to purchase common shares of the Company. Each Warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of $0.15 until 18 months following the closing date of the Offering. Each Flow-Through Unit will consist of one common share of the Company, which will qualify as a "flow-through share" within the meaning in the Income Tax Act (Canada) (the "Tax Act") and one-half of one Warrant. For further details of the Offering refer to the Company's news release dated June 17, 2014.

We seek Safe Harbor.

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