By Devika Patel
Knoxville, Tenn., Sept. 29 - Orex Minerals Inc. said it will conduct a C$1.2 million private placement of units.
The company will sell up to 8 million units at C$0.15 apiece. Each unit consists of one common share and one half-share warrant.
Each whole two-year warrant is exercisable at C$0.20.
Proceeds will be used to advance exploration and development of the company's Santa Cruz mineral property in Mexico and for general working capital purposes.
Orex is a junior mineral exploration company based in Vancouver, B.C.
| Issuer: | Orex Minerals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.2 million
|
| Units: | 8 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | Sept. 29
|
| Stock symbol: | TSX Venture: REX
|
| Stock price: | C$0.15 at close Sept. 26
|
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