Corex Gold arranges $780,000 private placemen
Corex Gold Corp
Symbol CGE
Shares Issued 11,732,446
Close 2005-01-25 C$ 0.71
Recent Sedar Documents
Corex Gold arranges $780,000 private placement
2005-01-26 14:36 ET - News Release
Mr. Craig Schneider reports
COREX ANNOUNCES BROKERED PRIVATE PLACEMENT
Subject to regulatory approval, Corex Gold Corp. will raise up to $780,000 by way of a brokered private placement. The company intends to sell up to 1.3 million units to qualified investors at a price of 60 cents per unit. Each unit will consist of one common share and one-half of one non-transferable warrant. A full warrant will entitle the holder to purchase an additional share for one year from closing at a price of 75 cents. The minimum subscription for investors in British Columbia, Alberta and Ontario will be $10,000.
The company has engaged Canaccord Capital Corp. to act as the agent on the offering. The company has agreed to pay to the agent an administration fee of $5,000, a corporate finance fee of 85,000 units, a commission of 8 per cent, payable in cash, or at the election of the agent, up to one-half of its commission may be paid in units, having the same terms as the offering and broker's warrants equal to 10 per cent of the number of units sold under the offering. Each broker's warrant will be exercisable to purchase one share for 65 cents per share for two years from the closing of the offering (expected to be on or around Feb. 15, 2005).
The company will use the net proceeds from the offering to further advance the development of its Mexican resource properties, and to provide working capital.
We seek Safe Harbor.