Proceeds are earmarked for exploration of Barsele mineral property
By Devika Patel
Knoxville, Tenn., Oct. 26 - Orex Minerals Inc. said it plans a C$4 million non-brokered private placement of units.
The company will sell 8 million units of one common share and a half-share warrant at C$0.50 per unit.
Each whole warrant will be exercisable at C$0.75 for two years. The strike price reflects a 33.93% premium to the Oct. 25 closing share price of C$0.56.
Settlement is expected Nov. 4.
Proceeds will be used for exploration of the Barsele mineral property in Sweden and general working capital.
Based in Vancouver, B.C., Orex mines for silver and gold.
| Issuer: | Orex Minerals Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$4 million
|
| Units: | 8 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 26
|
| Settlement date: | Nov. 4
|
| Stock symbol: | TSX Venture: REX
|
| Stock price: | C$0.58 at close Oct. 26
|
| Market capitalization: | C$18.76 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
