By Sheri Kasprzak
New York, Nov. 18 - Kobex Resources Ltd. said it has priced a C$2.73 million private placement.
The non-brokered deal includes up to 2.6 million units at C$1.05 each.
The units are comprised of one share and one warrant. The two-year warrants are exercisable at C$1.30 each.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.75 for more than 10 consecutive trading days.
Proceeds will be used for exploration and for the first year's payments on the Cumo molybdenum-copper deposit in Idaho. The rest will be used for general corporate purposes.
Vancouver, B.C.-based Kobex is a mineral exploration company.
| Issuer: | Kobex Resources Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2.73 million (maximum)
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| Units: | 2.6 million (maximum)
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| Price: | C$1.05
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.30
|
| Placement agent: | Non-brokered
|
| Pricing date: | Nov. 17
|
| Stock price: | C$1.22 at close Nov. 17
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