Company sells 9,756,098 shares at C$1.025 per share to two investors
By Devika Patel
Knoxville, Tenn., July 8 - Argex Titanium Inc. said it plans a C$10 million non-brokered private placement of stock with Ressources Quebec and a U.S.-based investment fund manager. Both investors will invest C$5 million.
The company will sell 9,756,098 common shares at C$1.025 apiece, which is a 13.14% discount to the July 5 closing share price of C$1.18.
Settlement is expected in early August.
The Montreal company produces titanium dioxide, iron and vanadium pentoxide.
| Issuer: | Argex Titanium Inc.
|
| Issue: | Common shares
|
| Amount: | C$10 million
|
| Shares: | 9,756,098
|
| Price: | C$1.025
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Ressources Quebec (for C$5 million)
|
| Pricing date: | July 8
|
| Stock symbol: | TSX Venture: RGX
|
| Stock price: | C$1.18 at close July 5
|
| Market capitalization: | C$135.44 million
|
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