Non-brokered offering funds increase of diamond drillings on Nampala
By Devika Patel
Knoxville, Tenn., May 4 - Robex Resources Inc. said it has completed the first tranche of a C$2 million non-brokered private placement of units. The company raised C$1.5 million in this tranche.
The company is selling units of one common share and one half-share warrant at C$0.27 per unit. It sold 5,555,555 units in this tranche.
Each whole warrant will be exercisable at C$0.30 for two years. The strike price reflects a 17.65% premium to the May 3 closing share price of C$0.255.
Proceeds will be used to increase diamond drillings on Nampala to 5,000 meters from 2,200 meters.
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$2 million
|
| Units: | 5,555,555 (in first tranche)
|
| Price: | C$0.27
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | May 4 (for C$1.5 million)
|
| Stock symbol: | TSX Venture: RBX
|
| Stock price: | C$0.255 at close May 3
|
| Market capitalization: | C$29.18 million
|
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