Offering raises funds for exploration and general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 19 - Temex Resources Corp. said it settled a private placement of stock. The deal priced for C$4 million on Oct. 29 and was increased to C$4.5 million on Nov. 8. The company raised C$5.55 million.
The company plans to raise C$1 million on similar terms in the next week.
The company sold 6,602,500 units at C$0.40 per unit and 6,618,179 flow-through shares at C$0.44 apiece. The price per share reflects a 10% premium to the Oct. 28 closing share price of C$0.40.
Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable at C$0.55 for two years. The strike price is a 37.5% premium to the Oct. 28 closing share price.
NCP Northland Capital Partners Inc. was the lead agent of a syndicate that included PI Financial Corp.
Proceeds will be used for exploration and general corporate purposes.
Temex is a Toronto-based exploration company with precious metal, nickel, diamond, and uranium projects in Ontario.
| Issuer: | Temex Resources Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$5,552,999
|
| Agents: | NCP Northland Capital Partners Inc. (lead), PI Financial Corp.
|
| Pricing date: | Oct. 29
|
| Upsized: | Nov. 8
|
| Settlement date: | Nov. 19
|
| Stock symbol: | TSX Venture: TME
|
| Stock price: | C$0.39 at close Oct. 29
|
| Market capitalization: | C$35.96 million
|
|
|
| Shares
|
| Amount: | C$2,911,999
|
| Shares: | 6,618,179
|
| Price: | C$0.44
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$2,641,000
|
| Units: | 6,602,500
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
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