Business
ATEX Resources Announces Brokered Private Placement Financing of up to $7.4M
Toronto, Ontario--(Newsfile Corp. - November 15, 2021) - ATEX Resources Inc. (TSXV: ATX) ("ATEX" or the "Company") announces that it has entered into a letter a
About this update from Atex Resources Inc.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - November 15, 2021) - ATEX Resources Inc. (TSXV: ATX) (\"ATEX\" or the \"Company\") announces that it has entered into a letter agreement with Desjardins Capital Markets, as sole bookrunner and agent (the \"Agent\"), in connection with a best-efforts private placement offering of units of the Company (the \"Units\") at a price of $0.1425 per Unit (the \"Offering Price\") for gross proceeds of up to $7,410,000 (the \"Offering\"). Each Unit will be comprised of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall be exercisable to acquire one Common Share (a \"Warrant Share\") at a price of $0.22 per Warrant Share for a period of 36 months from the closing of the Offering. The Agent will have an option (the \"Agent's Option\") to offer for sale up to an additional 15% of the number of Units sold in the Offering at the Offering Price, which Agent's Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering. ATEX intends to use the proceeds from the Offering to advance the Company's Valeriano Copper Gold Project and for general corporate purposes. The securities to be issued under the Offering will be offered by way of private placement in each of the provinces and territories of Canada, pursuant to applicable private placement exemptions under National Instrument 45-106 - Prospectus Exemptions. The Units may also be sold in the United States pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and in such other jurisdictions as may be permitted such that such sales are completed in a manner so as to not require filing of a prospectus, registration statement, offering memorandum or similar document nor give rise to any disclosure obligations or submission to the jurisdiction of such jurisdictions on the part of the Company. The Offering is scheduled to close in the week of November 29, 2021, or such date as agreed upon between the Company and the Agent (the \"Closing\") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Units to be issued under the Offering will have a hold period of four mont...