Deal with NCP Northland funds development of the Nampala Gold Project
By Devika Patel
Knoxville, Tenn., Feb. 6 - Robex Resources Inc. said it arranged a C$5 million private placement of units. The offering will be led by NCP Northland Capital Partners Inc. and has a 15% greenshoe.
The company will sell units of one common share and one half-share warrant at C$0.23 per unit on a reasonable commercial efforts basis.
Each whole warrant will be exercisable at C$0.35 for 18 months. The strike price reflects a 32.08% premium to the Feb. 3 closing share price of C$0.265.
Proceeds will be used for development of the Nampala Gold Project and working capital purposes.
"This is our first tranche of equity financing toward the realization of the Nampala project construction, which will allow us to order some key long lead-time equipment such as the ball mill," president and chief executive officer Andre Gagne said in a press release. "Negotiations are ongoing with the Mali government for the delivery of the production permit, and the environmental permit has been received. Upon delivery of the production permit, Robex intend to complete its debt financing with a bank consortium."
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$1.5 million
|
| Greenshoe: | 15%
|
| Price: | C$0.23
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
| Agent: | NCP Northland Capital Partners Inc.
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| Pricing date: | Feb. 6
|
| Stock symbol: | TSX Venture: RBX
|
| Stock price: | C$0.265 at close Feb. 3
|
| Market capitalization: | C$41.32 million
|
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