By Devika Patel
Knoxville, Tenn., April 11 - RX Exploration Inc. said it has completed a C$1.92 million private placement of units.
The company sold 4,792,000 units of one common share and a warrant at C$0.40 apiece. Each whole warrant will be exercisable at C$0.60 for two years.
IBK Capital Corp. was the agent.
Proceeds will be used to finance the ongoing underground drilling and rehabilitation program on the company's Drumlummon Mine in Montana. The proceeds will also be used for general administrative expenses and working capital.
RX is a mining company based in Toronto.
| Issuer: | RX Exploration Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$1,916,800
|
| Units: | 4,792,000
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Agent: | IBK Capital Corp.
|
| Settlement date: | April 11
|
| Stock symbol: | CNQ: RXEX
|
| Stock price: | C$0.51 at close April 11
|
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