By Devika Patel
Knoxville, Tenn., June 2 - Oremex Resources Inc. said it will raise approximately C$1.5 million in a non-brokered private placement of units.
The company will sell approximately 13,636,364 units of one common share and one half-share warrant at C$0.11 per unit. Each whole warrant will be exercisable at C$0.15 for two years.
Settlement is expected June 30.
Proceeds will be used for Mexican operations, working capital and general corporate purposes.
Based in Vancouver, B.C., Oremex is a mineral exploration company.
| Issuer: | Oremex Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.5 million (approximate)
|
| Units: | 13,636,364 (approximate)
|
| Price: | C$0.11
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | June 2
|
| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: ORM
|
| Stock price: | C$0.13 at close June 1
|
| Market capitalization: | C$7.56 million
|
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