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Fieldex seeks up to C$0.5mln in a non-brokered private placement

Wednesday, March 8, 2017 13:49
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Fieldex Exploration Inc. (CVE:FLX) said on Wednesday it is seeking up to C$500,000 from a non-brokered private placement issuing a maximum of 5mln units at a price of C$0.10 per unit. 

Each of the units will consist of one common share in the capital of Fieldex and one-half of a common share purchase warrant. Each full warrant will entitle its holder to purchase one additional common share of Fieldex at an exercise price of C$0.15 for a period of 36 months from the closing date of the private placement.

Fieldex, a mineral resource company actively exploring in Québec, may pay a cash sales commission to various securities dealers in an aggregate amount of 8% of the gross proceeds of the private placement. 

In addition, Fieldex may grant agents’ options to various securities dealers entitling the holders to acquire additional common shares in an aggregate amount representing 8% of the total number of units issued and sold in the private placement.

The agents’ options may be exercised at a price of C$0.10 for a period of 36 months from the closing date of the private placement, which is expected to take place on or about March 22.

Story by ProactiveInvestors


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