Magna Mining Inc. is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as lead agent and sole bookrunner on behalf of a syndicate of co-lead agents including Desjardins Securities Inc. and SCP Resource Finance LP , in connection with a best efforts private placement offering of up to 18,750,000 common shares of the Company at a price of $2.40 per Offered Share for aggregate gross proceeds of up to $45,000,000 . The Company has also granted to the Agents an option exercisable, in whole or in part, up to 48 hours prior to closing of the Offering, to sell up to an additional 2,083,300 Offered Shares at the Offering Price for additional gross proceeds of up to $4,999,920. The Offered Shares will be offered in each of the provinces and territo...