Deal sells units of flow through shares, half-share warrants at C$0.11
By Devika Patel
Knoxville, Tenn., March 10 - Temex Resources Corp. said it completed a C$2.78 million non-brokered private placement of units.
The company sold 25,223,818 units of one flow through common share and a half-share warrant at C$0.11 per unit.
Each whole warrant will be exercisable at C$0.18 for two years. The strike price reflects an 80% premium to the March 7 closing share price of C$0.10.
Proceeds will be used for exploration.
Temex is a Toronto-based exploration company with precious metal, nickel, diamond and uranium projects in Ontario.
| Issuer: | Temex Resources Corp.
|
| Issue: | Units of one flow through common share and a half-share warrant
|
| Amount: | C$2,774,620
|
| Units: | 25,223,818
|
| Price: | C$0.11
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.18
|
| Agents: | Non-brokered
|
| Pricing date: | March 10
|
| Stock symbol: | TSX Venture: TME
|
| Stock price: | C$0.10 at close March 7
|
| Market capitalization: | C$15.25 million
|
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