New Issue: RX Exploration seals C$5.44 million sale of units with C$2.28 million tranche

By Devika Patel

Knoxville, Tenn., April 30 - RX Exploration Inc. said it completed the last tranche of a C$5.44 million private placement of units, raising C$2.28 million. The company raised C$3.15 million on March 30.

The company sold 10,511,558 units at C$0.30 apiece in the first tranche and 7,611,878 units at the same price in the second. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.40 for two years.

IBK Capital Corp. and First Capital Markets Inc. were the agents.

Proceeds will be used for exploration and development on the Drumlummon Mine, for general administrative expenses and for working capital.

RX Exploration is a mining company based in Toronto.

Issuer:	RX Exploration Inc.
Issue:	Units of one common share and one warrant
Amount:	C$5,437,031
Units:	18,123,436
Price:	C$0.30
Warrants:	One warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.40
Agents:	IBK Capital Corp. and First Capital Markets Inc.
Settlement date:	March 30 (for C$3,153,467), April 30 (for C$2,283,563)
Stock symbol:	CNQ: RXE
Stock price:	C$0.30 at close March 30

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