MXX Matrrix Energy Technologies

CALGARY, Aug. 23, 2017 /CNW/ - MATRRIX Energy Technologies Inc. ("MATRRIX" or the "Corporation") (TSX-V: MXX) announces that it has closed its previously announced private placement (the "Private Placement") of 3,673,000 common shares (the "Common Shares") at a price of $0.315 per Common Share to Lyle Whitmarsh, President – Rig Division of the Corporation, Elson McDougald, director of the Corporation, and Thane Russell, Chairman of the Corporation, for aggregate gross proceeds of $1,157,000. The Common Shares are subject to a hold period under applicable securities laws until December 24, 2017. The proceeds of the Private Placement will be used for general corporate purposes.

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SOURCE Matrrix Energy Technologies Inc.