Business
METALEX ANNOUNCES CLOSING OF C$7 MILLION FINANCING
Dec. 23, 2010 (Canada NewsWire Group) -- KELOWNA, BC, Dec. 23 /CNW/ - Metalex Ventures Ltd ....
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n\n\n\n Dec. 23, 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\n\nKELOWNA, BC, Dec. 23 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) (the "Company") is pleased to announce, further to its\n new release of December 2, 2010, 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. (the "Agents").  A\n total of C$7,304,750 was raised through the issuance of both\n Flow-Through and Non Flow-Through units.\n\n\nThe Company raised C$6,029,700 through the issuance of 6,699,667\n "flow-through" units (Flow-Through Unit") at a price of C$0.90 per\n Flow-Through Unit. Each Flow-Through Unit consists of one "common\n share" of the Corporation (a "Common Share") issued on a "flow-through"\n basis (such Common Share, a "Flow-Through Share") and one half of one\n Common Share purchase warrant (each whole warrant, a "Flow-Through\n Warrant"). Each Flow-Through Warrant will entitle the holder thereof to\n acquire one Common Share at a price of C$1.00 for a period of 24 months\n following the closing of the Offering. The proceeds from the issuance\n of the Flow-Through Units shall be used to fund exploration\n expenditures at the Company's Canadian mineral projects and will\n qualify as Canadian exploration expenses (as defined in the Income Tax\n Act) that will be renounced to the investors. \n\n\nT...