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NGEx Minerals Announces C$40 Million Private Placement
NGEx Minerals Announces C$40 Million Private Placement Canada NewsWire VANCOU...
About this update from Ngex Minerals Ltd.
[{"type":"text","content":"\n \n \n \n NGEx Minerals Announces C$40 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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n \n July 20, 2023\n \n \n /CNW/ -\n \n NGEx Minerals Ltd.\n \n (TSXV: NGEX)\n \n (\"NGEx Minerals\" \"NGEx\" 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 6,155,000 common shares of the Company (the \"Common Shares\") at a price of\n \n C$6.50\n \n per Common Share for gross proceeds of up to\n \n C$40.0 million\n \n (the \"Private Placement\").\n \n View PDF version\n \n .\n \n \n In connection with the Private Placement, each of Lorito Holdings S.à.r.l. (\"Lorito\"), Zebra Holdings and Investments S.à.r.l. (\"Zebra\"), and Nemesia S.à.r.l. (\"Nemesia\", and together with Lorito and Zebra, the \"Lundin Family Trusts\"), being the Company's largest shareholders, have indicated their intention to participate in the Private Placement, subject to customary conditions, and satisfaction with the terms of the Private Placement. The Lundin Family Trusts have indicated their intention of subscribing for up to C$40.0 million of the Private Placement.\n \n \n Net proceeds of the Private Placement will be predominantly used towards furthering exploration programs at the Lunahuasi exploration project in San Juan Province,\n \n Argentina\n \n , continued exploration and maintenance of the Company's Los Helados project located in Region III,\n \n Chile\n \n , the repayment of amounts drawn against a\n \n US$3 million\n \n credit facility that matures in\n \n September 2023\n \n , if any, as well as for general corporate and working capital purposes.\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. The Common Shares will be offered by way of prospectus exemptions in...