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NGEx Minerals Increases Private Placement to C$25 Million
NGEx Minerals Increases Private Placement to C$25 Million Canada NewsWire ...
About this update from Ngex Minerals Ltd.
[{"type":"text","content":"\n \n \n \n NGEx Minerals Increases Private Placement to C$25 Million\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. 14, 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 due to strong demand it has elected to increase the previously announced non-brokered private placement to an aggregate of up to 31,250,000 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$25 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 (the \"TSXV\") 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 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 19...