Funds used for general purposes while waiting for Nampala mine financing
By Devika Patel
Knoxville, Tenn., Nov. 20 – Robex Resources Inc. said it raised C$1.46 million in the initial tranche of a C$2.5 million non-brokered private placement of stock. The deal was announced as a units sale on Oct. 30.
The company is selling 25 million common shares at C$0.10 apiece. The price per share is a 100% premium to C$0.05, the Oct. 29 closing share price. Robex sold 14.55 million shares in the first tranche.
Proceeds will be used for general purposes while waiting for the financing needed to restart operations of the Nampala mine.
Montreal-based Robex is a gold exploration company.
| Issuer: | Robex Resources Inc.
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| Issue: | Common shares
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| Amount: | C$2.5 million
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| Shares: | 25 million
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| Price: | C$0.10
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| Warrants: | No
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| Agent: | Non-brokered
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| Announcement date: | Oct. 30
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| Settlement date: | Nov. 20 (for C$1,455,000)
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| Stock symbol: | TSX Venture: RBX
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| Stock price: | C$0.05 at close Oct. 29
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| Market capitalization: | C$21.26 million
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