Business
Argentex Mining closes $7,347,200 investment with IFC, a member of the World Bank Group
Argentex Mining closes $7,347,200 investment with IFC, a member of the World Bank Group
About this update from Atex Resources Inc.
[{"type":"text","content":"\n\n\n\n Oct. 27, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Oct. 27 /CNW/ - Argentex Mining Corporation ("Argentex") (TSX-V: ATX, OTCBB: AGXM) is pleased to announce that IFC, a member of\n the World Bank Group, has completed its previously announced private\n placement, investing net proceeds of Cdn$7,347,200 in the company.\n\n\nIn the private placement, IFC purchased 10,804,706 units (each a "Unit") from Argentex at a price of Cdn$0.68 per Unit.  Each Unit consisted of\n one Argentex common share (each a "Unit Share") and one share purchase warrant (each a "Unit Warrant").  Each Unit Warrant entitles the holder to purchase one additional\n common share of Argentex (each a "Warrant Share") at a price of Cdn$1.14 for a period of five years after closing\n subject to an undertaking from IFC that it will not exercise Unit\n Warrants for so long as such exercise would result in it owning 20% or\n more of Argentex's issued and outstanding common shares immediately\n after giving effect to the exercise.\n\n\n"This is the single largest investment in our corporate history.  IFC's\n confidence in Argentex reinforces our company's high-quality projects\n and considerable potential," said Ken Hicks, President of Argentex. \n "The private placement also emphasizes our commitment to local,\n provincial and national Argentine stakeholders for the benefit of the\n country."\n\n\nIFC o...