By Sheri Kasprzak
Atlanta, Dec. 20 - Fieldex Exploration Inc. said Monday it will raise up to C$1 million in a private placement.
The company plans to issue up to 3 million flow-through units at C$0.25 each and up to 1 million common share units at C$0.25 each.
The flow-through units consist of one flow-through common share and one half-share warrant.
The common share units include one non flow-through common share and one warrant.
The whole warrants allow for an additional share at C$0.35 each for two years.
Haywood Securities Inc. is the placement agent in the deal, which is expected to close by Dec. 31.
Fieldex is a Rouyn-Noranda, Quebec-based mineral exploration and development company. The company plans to use the proceeds from the flow-through units for exploration expenses on its Quebec properties. The common share units will be used for general exploration expenses in Quebec and for working capital.
| Issuer: | Fieldex Exploration Inc.
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| Issue: | Flow-through units of one share and one half-share warrant and common units of one share and one warrant
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| Amount: | C$1 million
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| Placement agent: | Haywood Securities Inc.
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| Announcement date: | Dec. 20
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| Settlement date: | Dec. 31
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|
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| Flow-through units
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| Issue: | Flow-through units of one flow-through share and one half-share warrant
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| Shares: | 3 million units (maximum)
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.35
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|
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| Common share units
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| Issue: | Units of one share and one warrant
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| Shares: | 1 million units (maximum)
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| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
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