Proceeds fund exploration, working capital, general corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 29 - Fieldex Exploration Inc. said it took in C$300,000 in the second and final tranche of a C$935,875 private placement of units. The deal priced for C$2 million with a C$300,000 greenshoe on Nov. 21 and raised C$635,875 on Dec. 12.
The company sold 7,487,000 units of one flow-through common share and one half-share warrant at C$0.125 per unit. Fieldex sold 5,087,000 flow-through units in the first tranche and 2.4 million flow-through units in the second tranche.
Each whole warrant is exercisable at C$0.18 for 18 months. The strike price is a 100% premium to the Nov. 18 closing share price of C$0.09.
Industrial Alliance Securities Inc. conducted the offering on a best-efforts basis.
Proceeds will be used for exploration, working capital and general corporate purposes.
Fieldex is a base metals and strategic metals mining company based in Rouyn-Noranda, Quebec.
| Issuer: | Fieldex Exploration Inc.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$935,875
|
| Units: | 7,487,000
|
| Price: | C$0.125
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.18
|
| Agent: | Industrial Alliance Securities Inc.
|
| Pricing date: | Nov. 21
|
| Settlement date: | Dec. 12 (for C$635,875)
|
| Stock symbol: | TSX Venture: FLX
|
| Stock price: | C$0.09 at close Nov. 18
|
| Market capitalization: | C$3.61 million
|
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