By Devika Patel
Knoxville, Tenn., Oct. 2 - ZEOX Corp. announced that it plans to raise up to C$3.08 million in a private placement of units with investor Logician Minerals Ltd.
The company will sell 4.1 million units at C$0.75 apiece.
Each unit will consist of one common share and one warrant, with each warrant exercisable at C$1.00 for six months.
Proceeds will be used for general working capital and the continuing development of ZEOX's Butte, Mont., production facilities.
Based in Vancouver, B.C., ZEOX manufactures industrial mineral products.
| Issuer: | ZEOX Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3,075,000
|
| Units: | 4.1 million
|
| Price: | C$0.75
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Six months
|
| Warrant strike price: | C$1.00
|
| Investor: | Logician Minerals Ltd.
|
| Pricing date: | Oct. 2
|
| Stock symbol: | TSX Venture: ZOX
|
| Stock price: | C$0.70 at close Oct. 2
|
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