|By Marketwired .||
|February 5, 2013 12:55 PM EST||
LA PRAIRIE, QUEBEC -- (Marketwire) -- 02/05/13 -- Vantex Resources Ltd. (the "Company") (TSX VENTURE:VAX) has entered into an agreement with Avenue Capital Markets Inc. in respect of a brokered private placement financing at the following conditions:
A Flow-Through financing for a maximum of $504,000 with a maximum of 360 Flow Through Units (the "FT Units"). Each FT Units will be offered at a purchase price of $1,400, on a commercially reasonable effort agency basis. Each FT Units will consist of 8,000 flow through common shares and 2,000 common shares at a price of $0.14 per share and 5,000 share purchase warrants. Each warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of twelve months from the date of issuance, at a purchase price of $0.20 per share.
Proceeds of the flow through common shares will be used for the continuation of drilling on the Moriss zone of the Galloway property in Quebec. The expenses will constitute Canadian exploration expenses and flow-through mining expenditures (as defined in the Income Tax Act (Canada)), which can be renounced to purchasers for the 2013 taxation year.
The securities issued as part of this placement are subject to a minimum hold period of four-month-and-one-day period and subject to the approval of the TSX Venture exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
- "All It Took Was One E-Mail to Larry," Says Former eBay Research Director As He Moves to Google
- Google Ramps Up Its Mobile Reach: Launches "Mobile Web Search"
- VoIP Update: Yahoo! Buys DialPad
- Ericsson + Napster = World's First "Wireless Digital Music" Brand
- SYS-CON i-Technology Podcast August 30, 2005
- Free Guest Passes for the SOA World Conference & Expo in NYC
- A Flair for Food - Health-Conscious Cooking Is This Chef's Cup Of Tea
- Sony PSP May Feature Porn
- Kapow Helps Seiko UK, Provides SMS Text-Alert Services
- South Korea is World's Largest Phisher
- Will the Mac OS Now Be Offered by Dell?
- UK Targeted for Trojan Attacks