By Sheri Kasprzak
New York, Dec. 21 - Kobex Resources Ltd. has settled its previously announced private placement for C$3,945,900.
The company issued 3,758,000 units at C$1.05 each to individual and institutional investors.
The units are comprised of one share and one warrant. The warrants are exercisable at C$1.30 each for two years.
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.
The deal was first announced Nov. 17 as a C$2.73 million offering of up to 2.6 million units under the same terms.
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.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3,945,900
|
| Units: | 3,758,000
|
| Price: | C$1.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.30
|
| Placement agent: | Non-brokered
|
| Pricing date: | Nov. 17
|
| Settlement date: | Dec. 20
|
| Stock price: | C$1.22 at close Nov. 17
|
| Stock price: | C$1.37 at close Dec. 20
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
