Offering sells 30 million flow-through common shares at C$0.05 apiece
By Devika Patel
Knoxville, Tenn., Dec. 21 – Carmax Mining Corp. said it plans a C$1.5 million private placement of stock with Northern Fox Copper Inc.
The company will sell 30 million flow-through shares at C$0.05 per share. The price per share represents a 66.67% premium to C$0.03, the Dec. 18 closing share price.
Proceeds will be used for exploration.
The Vancouver, B.C., company explores for copper, molybdenum, gold and silver.
| Issuer: | Carmax Mining Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1.5 million
|
| Shares: | 30 million
|
| Price: | C$0.05
|
| Warrants: | No
|
| Investor: | Northern Fox Copper Inc.
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 31
|
| Stock symbol: | TSX Venture: CXM
|
| Stock price: | C$0.03 at close Dec. 18
|
| Market capitalization: | C$2.15 million
|
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