Units sold at C$0.13 each to finance drillings, prefeasibility study
By Devika Patel
Knoxville, Tenn., Feb. 25 - Robex Resources Inc. said it has settled the second and final tranche of a private placement of units. The deal priced for C$3 million on Feb. 22, and the company raised C$2.23 million a few hours later; it raised C$768,960 in the final tranche.
The company sold 23,076,922 units of one common share and one half-share warrant at C$0.13 per unit. It sold 17,161,846 units in the first tranche and 5,915,076 units in the second.
Each whole warrant will be exercisable at C$0.18 for two years. The strike price reflects a 2.7% discount to the Feb. 21 closing share price of C$0.185.
Proceeds will be used to do some drillings on Wili-Wili, update the Diangounté prefeasibility study and continue the ongoing feasibility on Nampala.
Montreal-based Robex is a gold exploration company.
| Issuer: | Robex Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 23,076,922 (17,161,846 in the first tranche and 5,915,076 in the second tranche)
|
| Price: | C$0.13
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.18
|
| Pricing date: | Feb. 22
|
| Settlement dates: | Feb. 22 (for C$2,231,040), Feb. 25 (for C$768,960)
|
| Stock symbol: | TSX Venture: RBX
|
| Stock price: | C$0.185 at close Feb. 21
|
| Market capitalization: | C$19.84 million
|
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