Deal with NCP funds development of the Nampala Gold Project
By Devika Patel
Knoxville, Tenn., March 15 - Robex Resources Inc. said it completed a C$3.21 million initial tranche of a C$5 million private placement of units. The offering priced with a 15% greenshoe on Feb. 6 and is being conducted on a reasonable commercial efforts basis by lead agent NCP Northland Capital Partners Inc. and Pope & Co. Ltd.
The company sold 13,967,699 units of one common share and one half-share warrant at C$0.23 per unit in this tranche.
Each whole warrant is 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.
"The funds raised with this first closing are sufficient to keep our schedule on track for the future development of the Nampala Gold Project for which a contract has been recently executed for the camp construction," president and chief executive officer André Gagné said in a press release.
"We are currently working on the road access and have undertaken discussions on other key contracts such as the Mill Detail Engineering and design. The Nampala Gold Project is a low Capex and cash costs project and this first tranche represents a milestone for Robex to become one of the low costs producer in the region and become our base for growth in Mali."
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$5 million
|
| 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. (lead), Pope & Co. Ltd.
|
| Pricing date: | Feb. 6
|
| Settlement date: | March 15 (for C$3,212,571)
|
| Stock symbol: | TSX Venture: RBX
|
| Stock price: | C$0.265 at close Feb. 3
|
| Market capitalization: | C$41.32 million
|
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