By Devika Patel
Knoxville, Tenn., Dec. 27 - Temex Resources Corp. announced it has settled a C$2 million non-brokered private placement of stock.
The company sold 2,352,940 flow-through shares at C$0.85 apiece.
The company paid C$140,000 in finder's fees and 164,706 non-transferable warrants. Each finder warrant is exercisable at C$1.10 until Dec. 27, 2009.
Proceeds will be used to advance the company's McFaulds Lake area land holdings, the Whitney Township Gold Property in Timmins and the Gowganda Silver Property in Gowganda, Ont., as well as the company's other mineral properties.
Temex is a Toronto-based mineral company that acquires, explores and develops properties for mining precious metals and diamonds, primarily in northeastern Ontario.
| Issuer: | Temex Resources Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$2 million
|
| Units: | 2,352,940
|
| Price: | C$0.85
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Fees: | C$140,000 in cash; 164,706 non-transferable warrants
|
| Settlement date: | Dec. 27
|
| Stock symbol: | TSX Venture: TME
|
| Stock price: | C$0.78 at close Dec. 27
|
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