By Marisa Wong
Milwaukee, May 5 - Kinetex Resources Corp. announced that it will raise up to C$1.41 million through a non-brokered private placement of shares.
Kinetex will sell up to 3,525,000 common shares at a subscription price of C$0.40 per share.
All shares issued pursuant to the private placement will be subject to a hold period of four months and one day from the date of issue, in accordance with the policies of the exchange and applicable securities laws.
Proceeds will be used to finance the company's continuing growth.
Kinetex is an oil, gas and mineral exploration company based in Vancouver, B.C.
| Issuer: | Kinetex Resources Corp.
|
| Issue: | Common shares
|
| Amount: | Up to C$1.41 million
|
| Shares: | Up to 3,525,000
|
| Price: | C$0.40
|
| Warrants: | No
|
| Pricing date: | May 5
|
| Agent: | Non-brokered
|
| Stock symbol: | TSX Venture: KTX
|
| Stock price: | C$0.26 at close May 4
|
| Market capitalization: | C$13.8 million
|
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