Common-share units sold to finance exploration in Guyana and Nevada
By Devika Patel
Knoxville, Tenn., July 30 - Canamex Resources Corp. said its C$2.7 million private placement of units has been fully subscribed. The deal priced July 27.
The company is selling 10 million units of one common share and one warrant at C$0.27 per unit.
Each whole two-year warrant is exercisable at C$0.40 in the first year and at C$0.50 in the second year. The strike prices reflect 53.85% and 92.31% premiums to the July 26 closing share price of C$0.26.
Settlement is expected Aug. 3.
Proceeds will be used for exploration of the company's mining projects in Guyana and Nevada and for general working capital.
Canamex is a resource exploration company based in Calgary, Alta.
| Issuer: | Canamex Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2.7 million
|
| Units: | 10 million
|
| Price: | C$0.27
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 in the first year, C$0.50 in the second year
|
| Pricing date: | July 27
|
| Settlement date: | Aug. 3
|
| Stock symbol: | TSX Venture: CSQ
|
| Stock price: | C$0.26 at close July 27
|
| Market capitalization: | C$23.66 million
|
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