By Devika Patel
Knoxville, Tenn., June 12 - Oremex Resources Inc. said it has increased a non-brokered private placement of units to C$1.65 million. The deal priced for C$1.5 million on June 2.
The company is selling 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.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.65 million
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Price: | C$0.11
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.15
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Agent: | Non-brokered
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Pricing date: | June 2
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Upsized: | June 12
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Settlement date: | June 30
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Stock symbol: | TSX Venture: ORM
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Stock price: | C$0.13 at close June 1
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Market capitalization: | C$7.56 million
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