Published on 7/26/2010 in the Prospect News PIPE Daily.
New Issue: Vantex Resources increases placement of equity units to C$2.1 million
By Devika Patel
Knoxville, Tenn., July 26 - Vantex Resources Ltd. said it has increased a private placement of units to C$2.1 million from C$1.7 million. The deal, which priced July 21, is being conducted by agent Jones, Gable & Co. Ltd.
The company will now sell 2,100 units at C$1,000 per unit on a commercially reasonable efforts basis. Each unit consists of 8,000 flow-through common shares, 2,000 common shares and 5,000 warrants. The warrants are each exercisable at C$0.15 for one year.
Proceeds will be used for general working capital purposes and to incur general exploration expenses in Quebec.
Vantex is a mining company based in La Prairie, Quebec.
Issuer: | Vantex Resources Ltd.
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Issue: | Units of 8,000 flow-through common shares, 2,000 common shares and 5,000 warrants
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Amount: | C$2.1 million
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Units: | 2,100
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Price: | C$1,000
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Warrants: | 5,000 warrants per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.15
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Agent: | Jones, Gable & Co. Ltd.
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Pricing date: | July 21
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Upsized: | July 26
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Stock symbol: | TSX Venture: VAX
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Stock price: | C$0.13 at close July 20
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Market capitalization: | C$2.17 million
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