Deal finances bankable feasibility study, infrastructure construction
By Devika Patel
Knoxville, Tenn., Nov. 21 - Amex Resources Ltd. said it negotiated a A$9 million private placement of stock.
The company will sell 9,473,684 ordinary shares at A$0.95 per share. The price per share is an 8.65% discount to the Nov. 18 closing share price of A$1.04.
Settlement is expected Nov. 30.
Proceeds will be used to complete the current bankable feasibility study, for general working capital and to purchase initial capital items required to develop the company's mining operation and infrastructure construction in Fiji.
Amex is a West Perth, Australia-based iron ore exploration company.
| Issuer: | Amex Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$9 million
|
| Shares: | 9,473,684
|
| Price: | A$0.95
|
| Warrants: | No
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 30
|
| Stock symbol: | Australia: AXZ
|
| Stock price: | A$1.04 at close Nov. 21
|
| Market capitalization: | A$66.25 million
|
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