Deal with Cohen Family finances construction of gold-producing plant
By Devika Patel
Knoxville, Tenn., Oct. 31 - Robex Resources Inc. said it completed an C$8 million private placement of units with the Cohen Family on Tuesday.
The company sold 80 million units of one common share and one warrant at C$0.10 per unit.
Each warrant is exercisable at C$0.25 until Oct. 29, 2017. The strike price reflects a 66.67% premium to the Oct. 29 closing share price of C$0.15.
Proceeds will be used for construction of the gold-producing plant on the Nampala site and for working capital.
Montreal-based Robex is a gold exploration company.
Issuer: | Robex Resources Inc.
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Issue: | Units of one common share and one warrant
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Amount: | C$8 million
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Units: | 80 million
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Price: | C$0.10
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Warrants: | One warrant per unit
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Warrant expiration: | Oct. 29, 2017
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Warrant strike price: | C$0.25
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Investor: | Cohen Family
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Settlement date: | Oct. 30
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Stock symbol: | TSX Venture: RBX
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Stock price: | C$0.15 at close Oct. 29
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Market capitalization: | C$30.81 million
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