By Laura Lutz
Des Moines, Aug. 30 - Namex Explorations Inc. raised C$80,550 from the second tranche of its C$1.5 million private placement of units, bringing the total raised so far to C$1.14 million.
The placement consists of non flow-through A units at C$0.30 each and flow-through B units at C$0.40 each.
The first tranche, which closed on Aug. 10, included 1,757,500 non flow-through units and 1,328,500 flow-through units.
The second tranche consisted of 230,500 non flow-through units and 28,500 flow-through units.
Each non flow-through unit consists of one non flow-through share and one half-share warrant.
Each flow-through unit consists of one flow-through share and one half-share warrant.
Each whole warrant will be exercisable for one non flow-through share at C$0.42 for 18 months.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares exceeds C$0.60 for 10 consecutive trading days at any time more than four months after issuance.
Northern Securities Inc. is the agent.
Proceeds will be used for exploration, working capital and general corporate purposes.
Namex is a mineral exploration company based in Montreal.
| Issuer: | Namex Exploraitons Inc.
|
| Issue: | Units of one non flow-through shares and one half-share non flow-through warrant; units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$1.5 million
|
| Agent: | Northern Securities Inc.
|
| Pricing date: | June 22
|
| Settlement date: | Aug. 10 (for C$1,058,650); Aug. 30 (for C$80,550)
|
| Stock symbol: | TSX Venture: NME
|
| Stock price: | C$0.345 at close June 22
|
| Stock price: | C$0.38 at close Aug. 10
|
| Stock price: | C$0.29 at close Aug. 29
|
|
|
| Non flow-through units
|
| Units: | 1,988,000 (in first two tranches)
|
| Price: | C$0.30
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.42
|
|
|
| Flow-through units
|
| Units: | 1,357,000 (in first two tranches)
|
| Price: | C$0.40
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.42
|
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