Urex Energy plans $2.5 million private placement of units

By Sheri Kasprzak

New York, Oct. 13 - Urex Energy Corp. said it intends to raise up to $2.5 million in a non-brokered private placement.

The terms of the offering have not yet been determined.

Proceeds from the deal will be used for exploration and development of the company's uranium projects in Argentina and New Mexico.

Reno, Nev.-based Urex is a uranium exploration company.

The stock gained a penny on Friday to end at $0.80 (OTCBB: URXE).

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