EDITOR: | July 11th, 2014

Mega Precious Metals Announces Upsizing of Private Placement to $5.3 Million

| July 11, 2014 | No Comments
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July 11, 2014 (Source: Marketwired) — NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Mega Precious Metals Inc. (TSX VENTURE:MGP) (“Mega” or the “Company”) is pleased to announce that due to demand, it has increased the size of its non-brokered private placement previously announced on June 17, 2014 and June 25, 2014 (the “Offering”) to gross proceeds of up to $5.3 Million consisting of a total of 3.9 Million units (the “Non-Flow-Through Units”) for gross proceeds of $0.4 Million and 40.7 Million flow-through units (the “Flow-Through Units”) for gross proceeds of $4.9 Million.

The terms of the Offering are Non-Flow-Through Units at a price of $0.11 per Non-Flow-Through Unit and Flow-Through Units at a price of $0.12 per Flow-Through Unit. Each Non-Flow-Through Unit will consist of one common share of the Company and one-half of one warrant (each whole warrant 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 releases dated June 17, 2014 and June 25, 2014.

Mega Precious Metals Inc. is a leading Canadian-based exploration company with a high quality pipeline of projects located in the mining friendly jurisdictions of Manitoba, Northwestern Ontario and Nunavut. The Company’s significant portfolio includes the flagship Monument Bay Gold Tungsten Project in NE Manitoba as well as the N. Madsen Gold Project in the prolific gold mining district of Red Lake, Ontario. Mega has established a record of delivering rapid growth through their focused and low cost approach to exploration and resource development. The Company’s common shares trade on the TSX Venture Exchange under the symbol MGP.

For further information and presentation material, please review the Mega website at www.megapmi.com.

Forward-looking Information

Certain statements in this press release contain information that may constitute forward-looking information under applicable Canadian securities legislation, including but not limited to, information relating to the terms and, the completion of the Offering. These forward-looking statements represent management’s best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, the strength of the global economy, fluctuations in the price of gold and operational, funding and liquidity risks. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in the Company’s filings which are posted on SEDAR at www.sedar.com. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or to update the reasons why actual results could differ from such information unless required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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