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NGEx Minerals Announces Cdn $20 Million Private Placement
NGEx Minerals Announces Cdn $20 Million Private Placement Canada NewsWire ...
About this update from Ngex Minerals Ltd.
[{"type":"text","content":"\n \n \n \n NGEx Minerals Announces Cdn $20 Million Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 13, 2021\n \n /CNW/ -\n \n NGEx Minerals Ltd.\n \n (TSXV: NGEX)\n \n (\"NGEx Minerals\" or the \"Company\")\n \n is pleased to announce that it intends to sell on a non-brokered private placement basis, an aggregate of up to 25 million common shares of the Company (the \"Common Shares\") at a price of\n \n C$0.80\n \n per Common Share for gross proceeds of up to\n \n C$20 million\n \n (the \"Private Placement\").\n \n View PDF\n \n \n \n The Company may pay a 5.00% finder's fee in cash or Common Shares on all or a portion of the Private Placement.\n \n \n The Common Shares will be offered by way of prospectus exemptions in\n \n Canada\n \n and the Common Shares sold in the Private Placement will be subject to a hold period of four months plus one day.\n \n \n Completion of the Private Placement will be subject to regulatory approval, including the approval of the TSX Venture Exchange and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers.\n \n \n Net proceeds of the Private Placement will be used towards furthering exploration programs in\n \n Chile\n \n and\n \n Argentina\n \n , the repayment of amounts drawn against a\n \n US$3 million\n \n credit facility that matures in\n \n February 2022\n \n as well as for general corporate and working capital purposes.\n \n \n The issuance of Common Shares to insiders constitutes a \"related party transaction\", as defined under Multilateral Instrument 61-101 (\"MI 61-101\"). The transactions will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any Common Shares issued to, nor the consideration paid, by such ...