By Laura Lutz
Des Moines, Aug. 20 - Acrex Ventures Ltd. raised C$900,000 from the second and final tranche of a C$2.504 million private placement of units.
In total, the company sold 7.8 million non flow-through units at C$0.18 each and 5 million flow-through units at C$0.22 each.
The second tranche consisted of 5 million non flow-through units.
The first tranche settled on Aug. 15. It included 2.8 million non flow-through units and 5 million flow-through units.
Each non flow-through unit consists of one non flow-through share and one half-share transferable warrant. Each flow-through unit consists of one flow-through share and one half-share transferable warrant.
Each whole warrant will be exercisable for one non flow-through share at C$0.50 for two years.
PI Financial Corp. is the agent.
The placement priced on July 19.
Acrex is a resource company based in Vancouver, B.C.
| Issuer: | Acrex Ventures Ltd.
|
| Issue: | Units of one non flow-through share and one half-share non flow-through warrant; units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$2.504 million
|
| Agent: | PI Financial Corp.
|
| Pricing date: | July 19
|
| Settlement date: | Aug. 15 (for C$1.604 million); Aug. 20 (for C$900,000)
|
| Stock symbol: | TSX Venture: AKV
|
| Stock price: | C$0.225 at close July 19
|
| Stock price: | C$0.25 at close Aug. 14
|
| Stock price: | C$0.195 at close Aug. 17
|
|
|
| Non flow-through shares
|
| Units: | 7.8 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
|
|
| Flow-through shares
|
| Units: | 5 million
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
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