RE:More on Camex.... Float TIGHT!
Camex closes shares-for-debt deal, $93,400 placement
2014-03-25 18:55 ET - News Release
Mr. Scott Ackerman reports
CAMEX COMPLETES PRIVATE PLACEMENT AND DEBT SETTLEMENT
Camex Energy Corp. has closed its previously announced private placement and debt settlement. Under the terms of the private placement, the company issued 1,868,000 common shares at a price of five cents per common share for gross proceeds of $93,400. Under the terms of the debt settlement, the company has settled $126,600 in outstanding indebtedness through the issuance of 2,532,000 shares at a deemed price of five cents per share. All shares issued will be subject to a hold period expiring on July 26, 2014.
Emprise Special Opportunities Ltd. acquired ownership and control of 1,536,781 common shares of the company pursuant to the debt settlement. As a result, ESOL has ownership and direction or control over 12,536,781 common shares of the company, representing 68.7 per cent of the issued and outstanding common shares of the company.
The company has been advised that the securities were acquired by ESOL for investment purposes. In addition to the settlement of debt, the company has been advised that securities of the company may be acquired or disposed of by ESOL, through the market or otherwise, as circumstances or market conditions warrant.
We seek Safe Harbor.
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