QMX Gold Files Preliminary Short Form Prospectus
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/
TORONTO, Sept. 12, 2012 /CNW/ - QMX GOLD CORPORATION [TSX: QMX] [OTCQX: QMXGF] ("QMX Gold" or the "Company") is announcing today that it has filed and obtained a receipt for a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of Canada, in connection with a fully marketed underwritten public offering of units (the "Units") of the Company (the "Offering"). The Offering will also be made in such other jurisdictions outside of Canada, including the United States, where the Offering can be completed on a private placement basis, exempt from any prospectus registration or similar requirements.
Each Unit shall be comprised of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire a Common Share for a period of five years from the date of issue. The terms of the Offering, including size and price, will be determined in the context of the market.
TD Securities Inc. and National Bank Financial Inc. are acting as co-lead underwriters and joint bookrunners (together, the Underwriters") with respect to the Offering. The Underwriters will be granted an over-allotment option (the "Over-Allotment Option"), exercisable in whole or in part, to acquire up to an additional 15% of securities sold in the base Offering in any combination of Units, Common Shares or Warrants for a period of 30 days following closing of the Offering. Closing of the Offering is subject to, among other things, regulatory approval, including TSX approval.
The Company intends to use the net proceeds from the Offering to provide the required equity financing for the development of the Company's Snow Lake property located in Manitoba, the repayment of bridge financing and for general corporate working capital purposes.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdictions in which such offer, solicitation or sale would be unlawful. Any offering made will be pursuant to available prospectus and registration exemptions and restricted to persons to whom the securities may be sold in accordance with the laws of such jurisdictions and by persons permitted to sell the securities in accordance with the laws of such jurisdictions.
Technical programs and scientific and technical information included in this release have been supervised, compiled, reviewed and approved by David Rigg, P.Geo., the Chairman of the Company and a Qualified Person as defined under NI 43-101.
About QMX Gold
QMX Gold Corporation is a Canadian publicly traded mining company focusing on mine development and exploration in Quebec and Manitoba. The Company is listed on the Toronto Stock Exchange and effective July 5, 2012, began trading under the symbol "QMX", and trades in the United States on the Over the Counter QX International platform under the symbol "QMXGF". QMX Gold operates in: Val-d'Or, Quebec and Snow Lake, Manitoba. QMX Gold continues to operate in the Val-d'Or area with production estimated at 18,000-20,000 ounces of gold per year. The Company has also begun to ramp-up pre-production activities at its property at the Snow Lake Mining Camp which has a Measured and Indicated Mineral Resources of over 720,000 oz gold and is expected to produce 80,000 ounces of gold per year as identified in the Technical Report of the Company dated of December 10, 2010 titled "Snow Lake Mine Re-activation Project" prepared by: Andre Roy (Eng.) Jamie Lavigne (P.Geo), David West (P.Eng), Ian Ward (P.Eng), Matthew Parfitt (P.Eng), Mark Bednarz (P.Geo) and available on the SEDAR profile of the Company at www.sedar.com.
Forward-looking information :
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the impact of the proposed Offering, the completion of the Offering and anticipated timing with respect to the closing of the Offering, the timing and amount of future exploration and development of the property, the timing and amount of future production, and the future financial or operating performance of QMX and its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE: QMX GOLD CORPORATIONFor further information:
President and CEO
Tel: (416) 309-2952
Tel: (514) 667-2304
Tel: (416) 861-5899