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NGEx Minerals Closes C$85 Million Private Placement
NGEx Minerals Closes C$85 Million Private Placement Canada NewsWire VANCOUV...
About this update from Ngex Minerals Ltd.
[{"type":"text","content":"\n \n \n \n NGEx Minerals Closes C$85 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 \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 11, 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 it has closed its previously announced non-brokered private placement that was upsized on\n \n July 21, 2023\n \n due to strong investor demand.\n \n View PDF version\n \n .\n \n \n The Company sold an aggregate of 13,178,460 common shares (the \"\n \n Common Shares\n \n \") of the Company at a price of\n \n C$6.50\n \n per Common Share for gross proceeds of approximately\n \n C$85.7 million\n \n (the \"\n \n Private Placement\n \n \").\n \n \n \n Wojtek Wodzicki\n \n , President and CEO, remarked, \"\n \n The Private Placement was met with overwhelming demand, led by the Lundin Family and institutional investors. Accordingly, NGEx increased the overall raise from\n \n $40 million\n \n to over\n \n C$85 million\n \n , giving the Company significant flexibility as it finalizes its exploration plans for the upcoming field season, which will likely focus on following up on the high-grade Lunahuasi discovery made earlier this year. To successfully raise funds at a premium to market at the time of announcement speaks volumes to the strong market support that NGEx currently has and the strength of its team and asset portfolio.\"\n \n \n \n In connection with the Private Placement, the Company paid a 5.0% finder's fee in cash on a portion of the Private Placement.\n \n \n The Common Shares issued under the Private Placement will be subject to a hold period expiring on\n \n December 12, 2023\n \n .\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 , 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....