By Laura Lutz
Des Moines, May 29 - Prominex Resource Corp. negotiated a private placement of units for up to C$1.5 million.
The company plans to sell up to 7.5 million units of one share and one warrant at C$0.20 per unit. Each whole warrant will be exercisable at C$0.30 for 18 months.
Research Capital Corp. will act as agent.
Proceeds will be used for exploration and general corporate purposes.
Prominex is a resource exploration company based in Vancouver, B.C.
| Issuer: | Prominex Resource Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 7.5 million
|
| Price: | C$0.20
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Research Capital Corp.
|
| Pricing date: | May 29
|
| Stock symbol: | TSX Venture: PXR
|
| Stock price: | C$0.175 at close May 29
|
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