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Acrex undertakes private placement offering of 12,800,000 units
Acrex undertakes private placement offering of 12,800,000 units.
About this update from Avventura Resources Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\n\n\nUNITED STATES/\n\n\nSymbol "AKV": TSX Venture Exchange\n\n\nSEC Form 20F Registration CIK: 1194506\n\n\nSymbol "AXVEF": OTC BB\n\n\nVANCOUVER, July 19 /CNW/ - Acrex Ventures Ltd. ("Company") has entered\ninto an agreement dated July 19, 2007 with PI Financial Corp. ("PI"), of\nVancouver, BC, appointing PI to act as its agent to make an exempt private\nplacement offering in B.C., Alberta and Ontario of 7,800,000 Units ("Units")\nfor $0.18 per Unit, and 5,000,000 flow-through Units ("FT Units") for $0.22\nper FT Unit.\n\n\nEach Unit will consist of one common share and one-half of a 2-year\ntransferable share purchase warrant exercisable at $0.50 per share; and\n\n\nEach FT Unit will consist of one flow-through share and one-half of a\n2-year transferable share purchase warrant entitling the purchase of one\nadditional non-flow through share at $0.50 per share.\n\n\nPI will be granted compensation which shall consist of:\n\n\n(a) 7.0% of the gross proceeds received from the sale of the Units and\n FT Units which PI may elect to take in whole or in part, in cash or\n in units of the Company at a deemed price of $0.18 per Unit;\n\n(b) Options entitling PI to purchase a number of shares equal to 8.0% of\n the aggregate number of Units and FT Units sold, exercisable at\n $0.23 per share for two years; and\n\n(c) Payment by the Company of all of PI's reasonable expenses.\n\n\nThe agreement with PI is subject to final documentation, satisfaction of\nPI after all due diligence enquiries and reviews by it, and acceptance of the\nagreement for filing by the TSX Venture Exchange - on which the shares of the\nCompany are listed for trading.\n\n\nThis News Release does not constitute an offer to sell or a solicitation\nof an offer to sell any of securities in the United States. The securities\nhave not been and will not be registered under the United States Securities\nAct of 1933, as amended (the "U.S. Securities Act") or any state securities\nlaws and may not be offered or sold within the United States or to U.S.\nPersons unless registered under the U.S. Securities Act and applicable state\nsecurities laws or an exemption from such registration is available.\n\n\nACREX VENTURES LTD.\n\n\...