By Sheri Kasprzak
Atlanta, May 11 - Metalex Ventures Ltd. said it has closed a private placement for C$2.3 million.
The company sold 1,529,411.765 common shares and 1,176,470.588 flow-through shares, both at C$0.85 each.
The offering was first announced March 11 as a C$3 million offering comprised fully of common shares priced at C$1.00 each. The price was dropped, according to a company statement, because of market conditions.
Based in Kelowna, B.C., Metalex is a diamond exploration company. It plans to use the proceeds for exploration.
| Issuer: | Metalex Ventures Ltd.
|
| Issue: | Stock
|
| Amount: | C$2.3 million
|
| Pricing date: | March 11
|
| Settlement date: | May 11
|
| Stock price: | C$0.90 at close March 11
|
| Stock price: | C$0.70 at close May 11
|
|
|
| Common shares
|
| Issue: | Common shares
|
| Amount: | C$1.3 million
|
| Shares: | 1,529,411.765
|
| Price: | C$0.85
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Issue: | Flow-through common shares
|
| Amount: | C$1 million
|
| Shares: | 1,176,470.588
|
| Price: | C$0.85
|
| Warrants: | No
|
|
|
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