By Sheri Kasprzak
New York, March 14 - AuEx Ventures, Inc. said it intends to raise up to $3.15 million in a private placement.
The deal includes 3.5 million units at $0.90 each.
The units consist of one share and one half-share warrant, with each whole warrant exercisable at $1.50 for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above $2.00 for more than 20 consecutive trading days.
Haywood Securities, Inc. is the placement agent and has a greenshoe for up to 500,000 units.
Proceeds will be used for exploration, project generation, maintenance and working capital.
Based in Vancouver, B.C., AuEx is a precious metals exploration company.
| Issuer: | AuEx Ventures, Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | $3.15 million
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| Units: | 3.5 million
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| Greenshoe: | For up to 500,000 units
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| Price: | $0.90
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | $1.50
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| Placement agent: | Haywood Securities, Inc.
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| Pricing date: | March 14
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| Stock symbol: | TSX Venture: XAU
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| Stock price: | C$1.14 at close March 14
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