RE: NEWS - placement approved
What could this mean for the company? SP?
----------Original Message Posted 10/14/2010 5:04:47 PM----------
ADEX SHAREHOLDERS APPROVE GREAT HARVEST TRANSACTION
Toronto-- October 14, 2010 - Adex Mining Inc. ("Adex" or the"Corporation") (TSX VENTURE:ADE) is pleased to announce that theshareholders of the Corporation today overwhelmingly approved the transactionscontemplated by Subscription Agreement (the "Agreement") made as ofthe 18th day of August, 2010 between Adex and Great Harvest Canadian InvestmentCompany Limited ("Great Harvest") which were previously announced bythe Corporation in a press release on August 23, 2010. The first step in thetransactions, being a private placement (the "Private Placement") toGreat Harvest of 40,000,000 units (the "Units") at a price of
.12per unit with each Unit consisting of one common share (a "CommonShare") of Adex and one Common Share purchase warrant (a "Series A Warrant"),is, subject to final TSX-Venture Exchange approval, expected to close on orbefore October 25, 2010.