LOWNA, BC, June 26 /CNW/ - METALEX VENTURES LTD. ("MTX"-TSX.V) (the
"Company") - The Company is please to announce that it has closed a further
non-brokered private placement for gross proceeds of $4,182,010. The offering
consisted of 4,551,200 flow-through shares and 1,423,100 non flow-through
units, both securities priced at $0.70 per security, with each unit comprised
of one common share and one-half of one share purchase warrant and each whole
warrant exercisable for the purchase of one common share of the Company at a
price of $0.88 per share until June 19, 2007. All securities are subject to a
hold period expiring on October 20, 2006. The Company has agreed to pay
certain finder's fees in accordance with the policies of the TSX Venture
Exchange.
Proceeds from the private placement will be used to advance the bulk
sampling of T1 and exploration in Ontario and Quebec as well as exploration in
Angola and other overseas projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Gregory, President
METALEX VENTURES LTD.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents herein.
%SEDAR: 00008159E
