By Sheri Kasprzak
New York, Sept. 2 - Orex Ventures Inc. has corrected the price per unit in its previously announced private placement.
The company will, in fact, sell 6 million units at C$0.15 each for proceeds of C$900,000.
Orex announced the deal initially as a C$1.02 million offering with the same number of units at C$0.17 each.
The units include one share and one half-share warrant. The whole warrants allow for the purchase of an additional share at C$0.20 each for two years.
The proceeds will be used for ongoing exploration at the El Tigre and Las Sorpresas properties and for working capital.
Based in Vancouver, B.C., Orex is a gold exploration company.
| Issuer: | Orex Ventures Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$900,000
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| Units: | 6 million
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| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.20
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| Pricing date: | Aug. 31
|
| Corrected: | Sept. 1
|
| Stock price: | C$0.205 at close Aug. 31
|
| Stock price: | C$0.26 at close Sept. 1
|
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