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moonlight1on Mar 05, 2019 4:47pm
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Argex Titanium Announces Final Closing of Private Placement
Argex Titanium Announces Final Closing of Private Placement
- Argex Raises Total Amount of $938,595
Not for Distribution to United States Newswire Services or for Dissemination in the United States
MONTREAL, QC / ACCESSWIRE / March 5, 2019 / Argex Titanium Inc. (TSX: RGX) ("Argex") is pleased to announce that it has held a third and final closing of its previously-announced private placement at which it issued 2,750,000 additional units (the "Units") at a price of $0.04 per Unit, for gross proceeds to Argex of $110,000.
Each of the Units is comprised of one common share and one common share purchase warrant. Each full warrant entitles its holder to acquire one additional Argex common share at a price of $0.05 for a period of 24 months.
Argex will use the net proceeds from the sale of the Units for working capital.
Argex issued an aggregate of 23,464,886 Units in the private placement for gross proceeds of approximately $938,595.
The securities issued at the third closing of the private placement are subject to a four-month "hold period" under applicable securities regulations.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, and these securities will not be offered or sold in any jurisdiction in which their offer or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws of the United States. Accordingly, these securities will not be offered or sold to persons within the United States unless an exemption from the registration requirements of the 1933 Act and applicable state securities laws is available.