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Oremex arranges $4-million equity financing 2006-04-12 05:27 ET - News Release Mr. Don Smith reports OREMEX C$4,000,000 PRIVATE PLACEMENT FINANCING Oremex Resources Inc. will proceed with a private placement consisting of up to 5,333,333 units at 75 cents per unit for gross proceeds of approximately $4-million. The company has also agreed to grant an overallotment option for up to an additional 1,333,333 units at 90 cents or $1-million. Each unit will consist of one common share and one-half of one share purchase warrant. One whole warrant will entitle the holder to purchase one additional common share for a period of 18 months at a price of 75 cents per warrant share, subject to an acceleration provision such that if, at any time following four months after the closing of the financing, the closing price per share on the TSX Venture Exchange is $2.00 or higher for 15 consecutive business days, then the company may give the investors notice that the warrants must be exercised or they will expire within 30 days of such notice. The company has retained Element & Associates Corporate & Project Finance Ltd. to act as consultant for the offering. Element will receive an 8-per-cent commission on the sale of these units. If all of the units are sold, including the overallotment option, the net proceeds to be realized by the company from the private placement will be approximately $4.6-million. The proceeds will be used to financed further infill, expansion and diamond drilling related development work, and a feasibility study on the Tejamen, Mexico, property, further exploration work on the other mineral properties held by the company in Mexico, and for general working capital. |
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| aus der Diskussion: | Silber-Explorer mit 6 Explorationsgebieten in Mexiko |
| Autor (Datum des Eintrages): | Quadra (12.04.06 14:50:06) |
| Beitrag: | 3 von 67 (ID:21175602) |
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