By Sheri Kasprzak
New York, May 4 - Metalex Ventures Ltd. has concluded a private placement for C$12,990,500.
The company issued 10,570,571 flow-through shares at C$0.70 each and 7,987,285 non flow-through units at C$0.70 each
The units are comprised of one share and one half-share warrant with each whole warrant exercisable at C$0.88 through April 28, 2007.
The deal was non-brokered.
Proceeds will be used for bulk sampling and exploration on the company's projects in Ontario and Quebec. The rest will be used for exploration in Angola and elsewhere overseas.
Based in Kelowna, B.C., Metalex is a mineral exploration company.
| Issuer: | Metalex Ventures Ltd.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$12,990,500
|
| Placement agent: | Non-brokered
|
| Settlement date: | May 4
|
| Stock symbol: | TSX Venture: MTX
|
| Stock price: | C$0.69 at close May 3
|
|
|
| Flow-through shares
|
| Shares: | 10,570,571
|
| Price: | C$0.70
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 7,987,285
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | April 28, 2007
|
| Warrant strike price: | C$0.88
|
|
|
© 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.
