Deal proceeds finance exploration on Santana project, working capital
By Devika Patel
Knoxville, Tenn., July 14 - Corex Gold Corp. said it plans a C$1 million non-brokered private placement of units.
The company will sell 3,333,333 units of one common share and one half-share warrant at C$0.30 per unit.
Each whole one-year warrant is exercisable at C$0.45. The strike price reflects a 36.36% premium to the July 13 closing share price of C$0.33.
Proceeds will be used will be use for exploration on Corex's Santana project and general working capital.
The gold mining company is based in Vancouver, B.C.
| Issuer: | Corex Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 3,333,333
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.45
|
| Agents: | Non-brokered
|
| Pricing date: | July 14
|
| Stock symbol: | TSX Venture: CGE
|
| Stock price: | C$0.33 at close July 14
|
| Market capitalization: | C$14.43 million
|
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