MacDonald Mines Exploration Ltd V.BMK

Humm . Up To 4 Million Now .

[Goldy63]

Sure seems a lot of folks want there ducats and the pot keeps getting bigger and bigger and these shares are not a big discount so beauty as extra $$$ for the kitty . Also anybody with a brain knows I am not Goldy the liar nic but being as I have had some modest success I do get trolls following me around . That said I did post last week in response to a post that Geo posted that a buyout after all this work IMO  would not occur until this puupy looks like or will be an open pit mine . My posts are there for all to see and I have been long on this stock since well into last year and yup my ducuts are not for sale anytime soon . Have a good day all . As said many times , more gold hits = more strike length = more depth = more width = more sp = the big prize . Yes open pit mine and then my fellow longs is time to laugh all the way to the bank but hey flip away , short, bash, rinse, repat but at the end of the day I believe in being long . JMO. 

MacDonald Mines Announces Further Increase of Flow-Through Private Placement to $4,000,000

V.BMK | 2 hours ago

TORONTO, July 13, 2020 (GLOBE NEWSWIRE) -- MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces that, due to continued investor demand, it is increasing the size of its non-brokered private placement offering to $4,000,000 consisting of: (i) “charity flow-through” Units at a price of $0.135 each (the “Charity FT Unit Offering”) and (ii) “flow-through” Units at a price of $0.10 each (the “FT Unit Offering” and, together with the Charity FT Unit Offering, the “Offering”). Eventus Capital Corp. has been appointed as a finder in connection with the Offering.

Each Unit will be comprised of one Common Share and one-half of one Common Share purchase warrant (each whole warrant, “Warrant”). Each Warrant shall be exercisable to acquire one Common Share (“Warrant Share”) at a price of $0.20 per Warrant Share for a period of 24 months from the closing of the Offering. If the closing price of the Common Shares is at a price equal to or greater than $0.35 for a period of 10 consecutive trading days, MacDonald will have the right to accelerate the expiry date of the warrants by giving notice, via a new release, to the holders of the Warrants that the Warrants will expire on the date that is 30 days after the issuance of said news release.

Common Shares issued under the FT Offering and Charity FT Unit Offering qualify as ‘flow through shares’ (“Flow Through Shares”). The gross proceeds from the FT Offering and Charity FT Unit Offering will be used to incur ‘Canadian exploration expenses’ that will qualify as ‘flow through mining expenditures’ as those terms are defined in the Income Tax Act which will be renounced to the initial purchasers of the Flow Through Shares. The net proceeds of the Offering will be used for exploration, including continued drilling of the Scadding Deposit and other prospective targets on the Company’s large SPJ property, and general working capital purposes.

Finders will receive a 7% cash payment and that number of compensation warrants (having the terms described above) equal to 7% of the Units sold. Closing of the Offering is subject to approval of the TSX Venture Exchange. Securities issued in the Offering are subject to a statutory hold period of four months.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

SPJ Property highlights

• 100% ownership
• 18,340 hectares in excellent mining jurisdiction and close to infrastructure
• Hosts the high-grade past producing Scadding Gold Mine
• Evidence of polymetallic mineralization at the Scadding Deposit indicative of IOCG potential
• Significant gold, cobalt-copper, silver, nickel and rare earth showings outside of the Scadding Deposit footprint

Historically, the Scadding Mine produced 914 kilograms of gold from 127,000 tonnes of mineralized material grading 7.2 g/t (OFR 5771). MacDonald’s reinterpretation of the geological model at the Scadding Deposit and the Company’s results to date indicate that the SPJ Project could host a large gold-rich Iron-Oxide-Copper-Gold deposit.

About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario focused on gold exploration in Canada. The Company is focused on developing its large SPJ Project in Northern Ontario.

The Company's common shares trade on the TSX Venture Exchange under the symbol "BMK".

To learn more about MacDonald Mines, please visit www.macdonaldmines.com

For more information, please contact:

Quentin Yarie, President & CEO, [phone], [e-mail]

Or Mia Boiridy, Investor Relations, [phone], [e-mail]