Offering conducted by M Partners to fund exploration and development
By Devika Patel
Knoxville, Tenn., Feb. 27 - Orex Minerals Inc. said it plans a C$5 million private placement of units with a 15% greenshoe. M Partners Inc. is the agent.
The company will sell 20 million units of one common share and a half-share warrant at C$0.25 per unit.
Each whole warrant is exercisable at C$0.30 for two years. The strike price reflects a 20% premium to the Feb. 26 closing share price of C$0.25.
Settlement is expected March 13.
Proceeds will be used for exploration and development of the Los Crestones Property in Sinaloa, Mexico, and for general corporate and working capital purposes.
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$5 million
|
| Greenshoe: | 15%
|
| Units: | 20 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | M Partners Inc.
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 13
|
| Stock symbol: | TSX Venture: REX
|
| Stock price: | C$0.25 at close Feb. 26
|
| Market capitalization: | C$20.07 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.
