By Sheri Kasprzak
New York, Sept. 20 - Metalex Ventures Ltd. said it plans to raise C$6.3 million in a private placement.
The offering includes 8.4 million shares at C$0.75 each.
Some of the shares will be issued on a flow-through basis.
Proceeds from the deal will be used to advance the company's diamond exploration projects. The rest will be used for working capital.
Based in Kelowna, B.C., Metalex is a mineral exploration company.
| Issue: | Metalex Ventures Ltd.
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| Issue: | Stock (non flow-through and flow-through shares)
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| Amount: | C$6.3 million
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| Shares: | 8.4 million
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| Price: | C$0.75
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| Warrants: | No
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| Pricing date: | Sept. 20
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| Stock price: | C$0.75 at close Sept. 19
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