Deal proceeds earmarked for expenditures at Cariboo Goldfields Project
By Devika Patel
Knoxville, Tenn., Jan. 4 - Tiex Inc. said it has settled a non-brokered private placement of two types of units. The deal priced for C$500,000 on Nov. 8 and was increased to C$1.04 million on Dec. 17. The company raised the full C$1.04 million.
Tiex sold 5,312,500 units at C$0.10 apiece for C$531,250. It also sold 4.03 million flow-through units at C$0.125 apiece for C$503,750.
Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.15 for one year. Each flow-through unit consists of one flow-through common share and one half-share warrant, with each whole warrant exercisable at C$0.20 for one year.
The strike prices of the warrants are 50% and 100% premiums to the Nov. 4 closing share price of C$0.10.
Proceeds will be used for expenditures on the Cariboo Goldfields Project in central British Columbia and for general working capital.
Calgary, Alta.-based Tiex is a gold exploration and development company.
| Issuer: | Tiex Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$1,035,000
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 8
|
| Settlement date: | Jan. 4
|
| Stock symbol: | TSX Venture: TIX
|
| Stock price: | C$0.10 at close Nov. 8
|
| Market capitalization: | C$3.71 million
|
|
|
| Units
|
| Amount: | C$531,250
|
| Units: | 5,312,500
|
| Price: | C$0.10
|
| Warrant strike price: | C$0.15
|
|
|
| Flow-through units
|
| Amount: | C$503,750
|
| Units: | 4.03 million
|
| Price: | C$0.125
|
| Warrant strike price: | C$0.20
|
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