By Sheri Kasprzak
New York, Aug. 3 - Temex Resources Corp. has downsized its previously announced private placement to C$960,000 from C$1,024,000.
The company will now sell up to 3.2 million flow-through shares at C$0.20 each and up to 1.6 million units at C$0.20 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of an additional share at C$0.30 each for two years.
The offering was first announced July 4 as a C$1,024,000 deal of up to 3.2 million flow-through shares at C$0.22 each and up to 1.6 million units at the same price.
The Toronto-based Temex is a gold exploration company. The proceeds will be used for exploration on the Timmins gold project and working capital.
| Issuer: | Temex Resources Corp.
|
| Issue: | Flow-through shares; units of one share and one half-share warrant
|
| Amount: | C$960,000
|
| Pricing date: | July 4
|
| Downsized: | Aug. 3
|
| Stock price: | C$0.20 at close July 4
|
| Stock price: | C$0.20 at close Aug. 3
|
|
|
| Flow-through shares
|
| Issue: | Flow-through common shares
|
| Shares: | 3.2 million (maximum)
|
| Price: | C$0.20
|
| Warrants: | No
|
|
|
| Units
|
| Issue: | Units of one share and one half-share warrant
|
| Units: | 1.6 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
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