By Sheri Kasprzak
New York, Nov. 30 - Urex Energy Corp. completed a private placement of units for $1 million.
The company sold 4 million units in the deal.
Each unit includes one share, one series A warrant for one half of a share and one series B warrant for one half of a share.
The whole series A warrants are exercisable at $0.25 each for one year and whole series B warrants are exercisable at $1.00 each for two years.
Proceeds will be used for working capital.
Located in Prosper, Texas, Urex is a uranium exploration company.
| Issuer: | Urex Energy Corp.
|
| Issue: | Units of one share, one series A warrant for one-half share, one series B warrant for one half-share
|
| Amount: | $1 million
|
| Units: | 4 million
|
| Price: | $0.25
|
| Warrants: | 2 million series A; 2 million series B
|
| Warrant expiration: | One year for series A, two years for series B
|
| Warrant strike price: | $0.25 for series A, $1.00 for series B
|
| Settlement date: | Nov. 22
|
| Stock symbol: | OTCBB: URXE
|
| Stock price: | $0.89 at close Nov. 22
|
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