By Devika Patel
Knoxville, Tenn., Nov. 21 - Metex Resources Ltd. said it plans a private placement of shares to raise A$6 million.
The company will sell 20 million shares at A$0.30 per share.
Proceeds will be used for engineering, construction, pre-development site characterization programs, acquisitions and working capital.
Based in West Perth, Western Australia, Metex Resources is an exploration company primarily engaged in mineral exploration, project evaluation and investment of surplus funds.
| Issuer: | Metex Resources Ltd.
|
| Issue: | Shares
|
| Amount: | A$6 million
|
| Shares: | 20 million
|
| Price: | A$0.30
|
| Warrants: | No
|
| Pricing date: | Nov. 21
|
| Stock symbol: | Australia: MEE
|
| Stock price: | A$0.335 at close Nov. 21
|
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