18.75 million flow-through shares sold at C$0.40 apiece through deal
By Devika Patel
Knoxville, Tenn., Aug. 18 – TerraX Minerals Inc. said it raised C$3.24 million in the second and final tranche of a C$7.5 million non-brokered private placement of stock. The deal priced for C$7 million on July 4 and raised C$4.26 million on July 29.
The company sold 18.75 million flow-through common shares at C$0.40 per share, a 4.76% discount to the June 30 closing share price of C$0.42. It sold 10,654,846 shares in the initial tranche and 8,095,154 shares in the second tranche.
Proceeds will be used for an aggressive drill program on TerraX's wholly owned Yellowknife City gold project this winter.
TerraX is a Vancouver, B.C., gold and diamond explorer.
| Issuer: | TerraX Minerals Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$7.5 million
|
| Shares: | 18.75 million
|
| Price: | C$0.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 4
|
| Settlement dates: | July 29 (for C$4,261,938), Aug. 18 (for C$3,238,062)
|
| Stock symbol: | TSX Venture: TXR
|
| Stock price: | C$0.42 at close June 30
|
| Market capitalization: | C$72.89 million
|
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