Business
Argentex Mining signs securities purchase agreement with IFC for equity investment of $7,347,200
Argentex Mining signs securities purchase agreement with IFC for equity investment of $7,347,200
About this update from Atex Resources Inc.
[{"type":"text","content":"\n\n\n\n Sep. 24, 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\nVANCOUVER, Sept. 24 /CNW/ - Argentex Mining Corporation ("Argentex") (TSX-V: ATX, OTCBB: AGXM) is pleased to announce that it has signed a definitive agreement with IFC. IFC, a member of the World Bank Group, has agreed to invest in a private placement for gross proceeds of Cdn$7,347,200.\n"Argentex is very pleased to welcome IFC as a major stakeholder," said Ken Hicks, President of Argentex. "We look forward to working with them to ensure that continued progress at our Pinguino mineral exploration project in Argentina follows globally recognized best practices for the mineral exploration industry, the environment and for working with local communities."\nArgentex intends to use the proceeds of the private placement to fund exploration and development activities at Pinguino and other properties in the Patagonia region of Argentina, as well as for working capital and general corporate purposes.\nArgentex anticipates that this private placement should close in October. Closing continues to be subject to conditions, including approval by the TSX Venture Exchange.\nIn the private placement, IFC will purchase 10,804,706 Units (the "Units") at a price of Cdn $0.68 per Unit for gross proceeds of Cdn$7,347,200. Each Unit will consist of one common share of Argentex (each a "Unit Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle...