Business
METALEX ANNOUNCES CLOSING OF C$11.2 MILLION FINANCINGS
Apr. 13, 2011 (Canada NewsWire Group) -- KELOWNA, BC, April 13 /CNW/ - Metalex Ventures Ltd ...
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n\n\n Apr. 13, 2011 (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\nKELOWNA, BC, April 13 /CNW/ - Metalex Ventures Ltd. (TSXV: MTX) (the "Company") is pleased to announce, further to its\n news release of March 11, 2011, the closing of its brokered private\n placement (the "Offering") by a syndicate of agents led by GMP\n Securities L.P. and including Pope & Company Ltd. (collectively, the\n "Agents"). The Company raised approximately C$10,000,000 through the\n issuance of 5,000,000 flow-through shares (the "Flow-Through Shares")\n at a price of C$1.00 per Flow-Through Share and 5,882,353 units (the\n "Units") at a price of C$0.85 per Unit.  Each Unit consists of one\n common share and one half of one common share purchase warrant, with\n each whole warrant entitling the holder thereof to acquire one\n additional common share of the Company at the exercise price of C$1.00\n for a period of 24 months following the closing of the Offering.\n\n\nIn connection with the Offering, the Agents received a cash commission\n equal to 7% of the gross proceeds of the Offering and also received\n compensation options exercisable by the Agents to acquire 761,765 Units\n at a price of $0.85 per Unit for a period of 24 months following the\n closing of the Offering.\n\n\nThe Company is also pleased to announce, further to its news release of\n March 21, 2011, the closing of its non-brokered private placement with\n Dr. Charles Fipke, Chairman o...