New Issue: RX Exploration raises C$1.68 million from private placements of units

By Devika Patel

Knoxville, Tenn., July 2 - RX Exploration Inc. said it has completed a C$1.68 million private placement of units.

The company sold 5,143,500 units of one common share and one warrant in a non-brokered private placement and 3,255,000 units through IBK Capital Corp. at C$0.20 per unit.

Each warrant will be exercisable at C$0.40 for two years, but may expire within 30 days if the company's shares close at C$0.60 or higher for 10 consecutive trading days.

Proceeds will be used primarily 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$1,679,700
Units:	8,398,500
Price:	C$0.20
Warrants:	One warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.40
Agent:	Non-brokered (for C$1,028,700), IBK Capital Corp. (for C$651,000)
Settlement date:	July 2
Stock symbol:	CNQ: RXE
Stock price:	C$0.38 at close July 2

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