Magna Mining Inc. is pleased to announce that it expects to satisfy the final conditions precedent to the previously announced acquisition of Lonmin Canada Inc. on or about November 4, 2022. Upon the satisfaction of the final conditions to the Acquisition, the escrow release conditions relating to the 74,128,860 subscription receipts of the Corporation issued on a non-brokered private placement basis at a price of $0.27 [...]
Results Include the Highest-Grade Intersection of Combined Platinum, Palladium and Gold Discovered to Date On the Shakespeare Project In the summary text, the prior press release reported an intersection from Hole MMC-22-43 as 0.41% Ni, 0.31% Cu, and 1.09g/t Pt + Pd + Au over 18.4m. The correct text should read 0.31% Ni, 0.41% Cu and 1.09 g/t Pt + Pd + Au over 18.4m. This document corrects and replaces the previous [...]
Results Include the Highest-Grade Intersection of Combined Platinum, Palladium and Gold Discovered to Date on the Shakespeare Project Magna Mining Inc. is pleased to announce the assay results from recent drilling at the Shakespeare Mine. A total of 1,983 meters of drilling in 5 drillholes was completed in the first half of 2022, with the results presented in Table 1. The 2022 exploration program thus far was designed to [...]
Magna Mining Inc. is pleased to announce the closing of the Corporation's previously-announced non-brokered private placement, pursuant to which a total of 74,128,860 subscription receipts of the Corporation were issued at a price of $0.27 per Subscription Receipt, for aggregate gross proceeds of $20,014,792.20 . Upon the satisfaction of the Escrow Release Conditions and without the payment of any additional [...]
Magna Mining Inc. is pleased to announce that it has received conditional approval from the TSX Venture Exchange of its previously announced proposed acquisition of 100% of Lonmin Canada Inc., which holds the Denison project in Ontario , and the related non-brokered private placement of up to 74,074,074 subscription receipts of the Company at a price of $0.27 per subscription receipt to raise aggregate gross proceeds of [...]
Magna Mining Inc. is pleased to announce that, as set out in the bulletin of the TSX Venture Exchange issued yesterday afternoon, its common shares will resume trading on Thursday, September 8, 2022. The trading halt was imposed by the TSX-V, in connection with the Company's announcement that it had signed a definitive share agreement to acquire 100% of Lonmin Canada Inc., including the Denison project and the past [...]
Transformational Acquisition of the past Producing Crean Hill Mine in Sudbury, Ontario Magna Mining Inc. is pleased to announce that the Company has entered into a definitive share purchase agreement to acquire 100% of Lonmin Canada Inc. , including the Denison Project and the past producing Crean Hill Ni-Cu-PGE mine. Magna's CEO, Jason Jessup, commented: "The Crean Hill Mine was a significant producer in the Sudbury [...]
Magna Mining Inc. reports that all resolutions at the Company's annual general and special meeting of shareholders were approved by shareholders. The results of voting are noted below. For additional details on the resolutions, please see the management information circular of the Company dated May 17, 2022 . Election of Directors. Nominee For % For Withhold % Withhold Jason Jessup 44,439,261 100 1,700 0 Derrick Weyrauch [...]
Magna Mining Inc. is pleased to announce the appointment of Jonathan Goodman to Magna's Board of Directors. Mr. Goodman is currently the President and CEO of Dundee Corporation and is also the President and CEO of Dundee Goodman Merchant Partners, a mining focused merchant bank. Dundee currently holds a 19.2% investment interest in Magna as of October 26, 2021 . Mr. Goodman previously served as CEO of Dundee Precious [...]
Magna Mining Inc. is pleased to announce that it has commissioned a second drill rig to accelerate exploration drilling at previously identified regional targets on the Shakespeare Nickel Project. The second rig was moved to site early this month, and recently began drilling at the Company's Spanish River Mine Option , located 1km south-west of the recent P-4 nickel discovery . Spanish River was previously in production [...]
Magna Mining Inc. is pleased to announce that further to its news release dated January 31, 2022, it has filed on SEDAR an independent technical report titled "Shakespeare Project Feasibility Study Technical Report" in respect of its Shakespeare Nickel Project located 60 km south-west of Sudbury, Ontario. The technical report has been filed in accordance with National Instrument 43-101 - Standards of Disclosure for [...]
Magna Mining Inc. is pleased to announce that it has entered into a non-binding memorandum of understanding with Mitsui & Co., Ltd. , whereby Magna and Mitsui will discuss the possibility of Mitsui's acquirement of a 10 to 12.5% interest in Magna's Shakespeare Mine in exchange for cash consideration ranging between $8 million to $10 million on such terms as to be further negotiated between the parties . In connection with [...]
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