By Devika Patel
Knoxville, Tenn., Aug. 23 - Adex Mining Inc. said it plans a C$4.8 million private placement of units with Great Harvest Canadian Investment Co. Ltd.
The company will sell 40 million units of one common share and one warrant at C$0.12 apiece.
Each one-year warrant will be exercisable at C$0.18. The strike price represents an 89.47% premium to the Aug. 20 closing share price of C$0.095.
Proceeds will be used for development of Adex's Mount Pleasant Mine Property.
Based in Toronto, Adex Mining is a mining company.
| Issuer: | Adex Mining Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4.8 million
|
| Units: | 40 million
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.18
|
| Investor: | Great Harvest Canadian Investment Co. Ltd.
|
| Settlement date: | Aug. 23
|
| Stock symbol: | TSX Venture: ADE
|
| Stock price: | C$0.095 at close Aug. 20
|
| Market capitalization: | C$9.65 million
|
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