Non-brokered deal to fund exploration; Forbes & Manhattan participates
By Devika Patel
Knoxville, Tenn., Dec. 22 - Cap-Ex Ventures Ltd. said it raised C$3.33 million in the initial tranche of a C$10.2 million non-brokered private placement of units. Forbes & Manhattan, Inc. is among the investors for the deal, which priced Dec. 2.
The company is selling 2 million flow-through units of one flow-through common share and one warrant at C$0.85 per unit and 10 million non flow-through units of one non flow-through share and one warrant at the same price per unit.
The company sold 3,915,810 units in the first tranche.
Each warrant is exercisable at C$0.95 for two years. The strike price reflects a 3.06% discount to the Dec. 1 closing share price of C$0.98.
Settlement of the second tranche is expected Jan. 15.
Proceeds will be used for exploration.
Cap-Ex is a gold exploration company based in Vancouver, B.C.
| Issuer: | Cap-Ex Ventures Ltd.
|
| Issue: | Units of one common share and one warrant; flow-through units of one flow-through common share and one warrant
|
| Amount: | C$10.2 million
|
| Units: | 12 million
|
| Price: | C$0.85
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.95
|
| Agent: | Non-brokered
|
| Investor: | Forbes & Manhattan, Inc.
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 22 (for C$3,328,439), Jan. 15
|
| Stock symbol: | TSX Venture: CEV
|
| Stock price: | C$0.98 at close Dec. 1
|
| Market capitalization: | C$44.13 million
|
|
|
| Flow-through units
|
| Amount: | C$1.7 million
|
| Units: | 2 million
|
|
|
| Non flow-through units
|
| Amount: | C$8.5 million
|
| Units: | 10 million
|
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