Offering sells 40 million shares at C$0.50 apiece to fund exploration
By Devika Patel
Knoxville, Tenn., Feb. 19 - Orex Minerals Inc. said Monday that it plans a C$20 million non-brokered private placement of stock.
The company will sell 40 million common shares at C$0.50 per share. The price per share is identical to the Feb. 15 closing share price.
Settlement is expected March 30.
Proceeds will be used for exploration of the Barsele Gold Project in Sweden, exploration of the Los Crestones project in Mexico and general working capital purposes.
Based in Vancouver, B.C., Orex mines for silver and gold.
| Issuer: | Orex Minerals Inc.
|
| Issue: | Common shares
|
| Amount: | C$20 million
|
| Shares: | 40 million
|
| Price: | C$0.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 18
|
| Settlement date: | March 30
|
| Stock symbol: | TSX Venture: REX
|
| Stock price: | C$0.50 at close Feb. 15
|
| Market capitalization: | C$20.94 million
|
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