Business
Argentex receives $3.85 million capital injection
TORONTO, April 1 /CNW/ - Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to anno...
About this update from Atex Resources Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, April 1 /CNW/ - Argentex Mining Corporation (TSX-V: ATX,\nOTCBB: AGXM) is pleased to announce that it recently completed two private\nplacements in which it raised aggregate gross proceeds of US$3,850,000 at\nUS$1.25 per unit. Each unit consisted of one common share and one-half of one\ncommon share purchase warrant. One of the private placements, in which\nArgentex raised $3,750,000 of the gross proceeds referred to above, was a\nbrokered private placement in which PI Financial Corp. acted as the Agent.\n\n\nArgentex has agreed to use the net proceeds to continue exploration at\nits flagship polymetallic Pinguino property, to fund exploration of its other\nSanta Cruz mineral properties and for general corporate purposes.\n\n\n"This financing recognizes the significant advancements we have made at\nPinguino to date and underscores our confidence in its potential," said Ken\nHicks, President of Argentex. "It also provides us with the capital to\ncontinue aggressively advancing exploration and engineering activities at\nPinguino. Drill testing of our epithermal gold-silver Condor property and\nadditional exploration on other prospective earlier-stage discoveries in Santa\nCruz province is proposed for 2008."\n\n\nIn a short period of time, Argentex has advanced the Pinguino project\nfrom a raw prospect to a drill-tested, multi-zone mineralized system with\nmassive sulphide mineralization containing zinc, lead, silver and indium as\nwell as high-grade silver-gold intersections. Drilling is ongoing at Pinguino\nas part of the company's largest-ever drill program.\n\n\nFor additional details about these financings, please refer to the Form\n8-K filed by Argentex on the Securities and Exchange Commission's EDGAR\nwebsite on March 27, 2008.\n\n\nABOUT ARGENTEX:\n\n\nArgentex Mining Corporation is a junior mining exploration company with\nsignificant holdings in the Patagonia region of Argentina. The company holds\nan option to acquire 100% mineral rights to the Pinguino property and owns\n100% mineral rights to more than 30 properties with over 377,490 acres\n(152,766 hectares) of prospective land located in the Santa Cruz and Rio Negro\nprovinces of Argentina. Shares of Argentex common stock trade under the symbol\nAGXM on the OTCBB and, beginning July 28, 2008, will trade on the TSX Venture\nExcha...