Argex Titanium Inc. ARGEF

Wow placment at 0.075$

[grammadux]

Wow there must be something big upcoming! Someone is willing to give them $3.5m at a 50% premium to current share price of $0.05 From the release: Argex Titanium Inc. (TSX: RGX) (Argex) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange for a private placement of a maximum of 46,666,666 units at a price of $0.075 per unit, for maximum gross proceeds to Argex of $3.5 million. Argex expects that closing of the private placement will take place on or about July 21, 2017. Each of the units will be comprised of one common share and one-half of a common share purchase warrant; each full warrant will entitle its holder to acquire one additional Argex common share at a price of $0.13 for a period of 18 months from the closing date. In the event that the closing price of Argexs common shares on the Toronto Stock Exchange is at least $0.15 for a period of not less than 20 consecutive trading days, the warrants will expire, at the sole discretion of Argex, on the 30th day after the date on which Argex sends a notice in prescribed form to the holders of the warrants. Argex will use the net proceeds from the private placement to complete FEL-2 engineering and a technology package for its titanium dioxide (TiO2) project. The units are being offered to accredited investors in some or all of the provinces of Canada and in other jurisdictions, if any, determined by Argex.