Corex Increases and Closes Non-Brokered Private Placement of $1,179,400
2011年8月11日 - 11:30PM
Marketwired
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Corex Gold Corp. (the "Company") (TSX VENTURE: CGE) is pleased
to announce it has increased the previously announced (July 14,
2011) private placement up to $1,000,000 (3,333,333 units at $0.30
per unit (the "Financing"), and has closed on 3,931,332 units at a
price of $0.30 per unit, ("Unit") for aggregate gross proceeds of
CDN $1,179,400. Each Unit consists of one common share and one half
of one share purchase warrant (the "Warrant"), each whole Warrant
exercisable by the holder to acquire one additional common share at
a price of $0.45 for 12 months from Closing. The Warrants are
subject to an accelerated expiry which comes into effect once the
shares trade above a weighted average price of $0.50 for any twenty
consecutive trading-day period, subsequent to four months from
Closing. In the event of an accelerated expiry, the expiry date
will be the earlier of the regular two year expiry date and 30 days
from the date the Company advises the placees of the accelerated
expiry.
Finders' fees of 7% cash and 7% warrants ("Finders Warrant") of
the Financing, in accordance with the policies of the Exchange.
Each Finders Warrant entitles the holder to purchase one common
share (a "Finders Share") at a price of $0.45 per Finder Share for
a period of 12 months from closing of the Financing for aggregate
cash payments of $74,515 and 248,383 Finders Warrants.
The net proceeds from this private placement will be used for
additional exploration on Corex's Santana project and for general
working capital purposes.
In accordance with securities legislation currently in effect,
the Shares, the Warrants and the Warrant Shares issued pursuant to
the Financing will have a restricted "hold" period of four months
plus one day from the date of closing of the Financing.
This press release is not an offer to sell or the solicitation
of an offer to buy the securities, nor shall there be any sale of
the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to qualification or
registration under the securities laws of such jurisdiction. The
securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and such securities may not be offered or sold within the
United States absent an applicable exemption from U.S. registration
requirements.
ON BEHALF OF THE BOARD
Craig D. Schneider, President & CEO
Cautionary Statement
The foregoing information may contain forward-looking statements
relating to the future performance of Corex Gold Corp., in
particular the potential for the Santana property to host a
large-tonnage gold-silver-copper porphyry system. Forward-looking
statements, specifically those concerned with future performance
are subject to certain risks and uncertainties, and actual results
may differ materially. These risks and uncertainties are detailed
from time to time in Corex Gold Corp.'s filings with the
appropriate securities commissions.
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.
Contacts: Corex Gold Corporation Craig Schneider President &
CEO 604.683.2505 Corex Gold Corporation Chris Bogart VP Corporate
Development 604.683.2505 604.683-2506 (FAX) info@corexgold.com
www.corexgold.com
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