By Devika Patel
Knoxville, Tenn., Nov. 11 - AuEx Ventures, Inc. said it will take in up to C$4.4 million from a private placement of units.
The company will sell between 3 million and 4 million units of one common share and one half-share warrant at C$1.10 apiece. The whole two-year warrants are exercisable at C$1.38 in the first year and at C$1.65 thereafter.
The warrants may expire sooner if the company's shares close at C$2.06 or higher for 20 consecutive trading days in the first year or at C$2.48 or higher for 20 consecutive trading days in the second year. In that case, the warrants will expire 30 days after the company notifies holders.
Haywood Securities, Inc. is the agent.
Proceeds will be used to fund the company's participating interest in the Long Canyon Venture, maintenance and exploration of existing projects and general working capital purposes.
Based in Vancouver, B.C., AuEx is a precious metals exploration company.
| Issuer: | AuEx Ventures, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3.3 million (minimum), C$4.4 million (maximum)
|
| Units: | 3 million (minimum), 4 million (maximum)
|
| Price: | C$1.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.38 in the first year, C$1.65 thereafter
|
| Agent: | Haywood Securities, Inc.
|
| Pricing date: | Nov. 11
|
| Stock symbol: | Toronto: XAU
|
| Stock price: | C$1.14 at close Nov. 10
|
© 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.
