By Devika Patel
Knoxville, Tenn., Nov. 19 - Kinetex Resources Corp. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one warrant at C$0.15 per unit. Each warrant will be exercisable at C$0.25 for two years.
Proceeds will be used for development and working capital.
Kinetex is an oil, gas and mineral exploration company headquartered in Vancouver, B.C.
| Issuer: | Kinetex Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 19
|
| Stock symbol: | TSX Venture: KTX
|
| Stock price: | C$0.13 at close Nov. 19
|
| Market capitalization: | C$4.39 million
|
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