MGX Minerals Inc (CSE:XMG, OTC:MGXMF) has raised around $1.811 men from a rights issue, which has now closed.
More than 10mln units were distributed at 18 cents each, with each unit consisting of one common share and half a purchase warrant.
Each warrant is exercisable into a share at 20 cents per share for two years.
MGX operates lithium, magnesium and silicon projects throughout British Columbia and Alberta.
In January, it received a 20-year mining lease for its Driftwood Creek magnesium project and recently released a maiden NI 43-101 resource estimate for the site, which outlined eight million tonnes grading 43.31 per cent magnesium oxide.
The firm recently bought the advanced-stage Sturgeon Lake lithium brine project in west-central Alberta, increasing its lithium brine land position to over 376,000 hectares in the province.
Story by ProactiveInvestors