Company is selling units of one common share and a five-year warrant
By Devika Patel
Knoxville, Tenn., Dec. 2 - Oremex Silver Inc. said it arranged a C$1.73 million private placement of units with Global Resources Investments Ltd.
The company will sell 34.5 million units of one common share and one warrant at C$0.05 per unit.
Each warrant is exercisable at C$0.05 for five years. The strike price is a 66.67% premium to the Nov. 29 closing price of C$0.03.
MGI Securities Inc. will be paid a finder's fee.
Based in Toronto, Oremex explores for silver.
| Issuer: | Oremex Silver Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,725,000
|
| Units: | 34.5 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.05
|
| Investor: | Global Resources Investments Ltd.
|
| Pricing date: | Dec. 2
|
| Stock symbol: | TSX Venture: OAG
|
| Stock price: | C$0.03 at close Nov. 29
|
| Market capitalization: | C$3.66 million
|
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