May 19 sale of flow-through units has been reduced to C$1.49 million
By Devika Patel
Knoxville, Tenn., June 8 – TerraX Minerals Inc. said it settled a C$2 million non-brokered private placement of stock with Canadian investment fund CMP. The deal priced on June 2.
The company sold 5 million flow-through common shares at C$0.40 per share, a 21.21% premium to the June 1 closing share price of C$0.33.
As a result of this placement, the private placement of units announced on May 19 has been reduced to C$1,492,000 from C$3,465,000. In that sale, the company is selling 7.7 million units of one flow-through common share and a half-share warrant at C$0.45 per unit, with each whole warrant exercisable at C$0.55 for three years. This offering is expected to fund an extensive exploration program on the Yellowknife City gold project.
TerraX is a Vancouver, B.C., gold and diamond explorer.
| Issuer: | TerraX Minerals Inc.
|
| Issue: | Flow-through common stock
|
| Amount: | C$2 million
|
| Shares: | 5 million
|
| Price: | C$0.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | CMP
|
| Pricing date: | June 2
|
| Settlement date: | June 8
|
| Stock symbol: | TSX Venture: TXR
|
| Stock price: | C$0.33 at close June 1
|
| Market capitalization: | C$19.48 million
|
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