Deal funds exploration programs, development, working capital purposes
By Devika Patel
Knoxville, Tenn., June 5 – NGEx Resources Inc. said it priced its C$35 million private placement of stock. The deal was announced as a C$30 million offering on Wednesday.
The company will sell 17,412,935 common shares at about C$2.01 per share, which is a 0.5% premium to the June 4 closing share price of C$2.00.
Pareto Securities AB will be the sole bookrunner and lead manager.
Proceeds will be used for exploration programs in Chile and Argentina, corporate development and general working capital purposes.
Vancouver, B.C.-based NGEx is a multi-commodity exploration company.
| Issuer: | NGEx Resources Inc.
|
| Issue: | Common shares
|
| Amount: | C$35 million
|
| Shares: | 17,412,935
|
| Price: | C$2.01 (approximate)
|
| Warrants: | No
|
| Bookrunner: | Pareto Securities AB
|
| Co-manager: | Skandinaviska Enskilda Banken AB
|
| Announcement date: | June 4
|
| Pricing date: | June 5
|
| Settlement date: | June 17
|
| Stock symbol: | Toronto: NGQ
|
| Stock price: | C$2.00 at close June 4
|
| Market capitalization: | C$346.33 million
|
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