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NGEx Minerals Closes C$25 Million Private Placement
NGEx Minerals Closes C$25 Million Private Placement Canada NewsWire /...
About this update from Ngex Minerals Ltd.
[{"type":"text","content":"\n \n \n \n NGEx Minerals Closes C$25 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 \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n VANCOUVER, BC,\n \n Nov. 1, 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 it has closed its previously announced non-brokered private placement that, due to strong investor demand, was upsized on\n \n October 14, 2021\n \n .\n \n View PDF\n \n \n \n \n \n \n \n \n \n \n The Company sold an aggregate of 31,250,000 common shares (the \"Common Shares\") of the Company at a price of\n \n C$0.80\n \n per Common Share for gross proceeds of\n \n C$25 million\n \n (the \"Private Placement\").  Insiders of NGEx Minerals have participated in the Private Placement on the same terms as arms-length subscribers, subscribing for a total of 11,250,000 Common Shares for aggregate proceeds of\n \n $9,000,000\n \n .\n \n \n In connection with the Private Placement, the Company paid cash finder's fees on a portion of the Private Placement to PI Financial, Pareto Securities and Haywood Securities.\n \n \n The Common Shares issued under the Private Placement will be subject to a hold period expiring on\n \n March 2, 2022\n \n .\n \n \n Net proceeds of the Private Placement will be used towards furthering work 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 This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the U.S., or in any jurisdiction in which such an offer or sale would be unlawful. The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, ...