Canex Closes First Tranche of Financing
CANEX Metals has closed the first tranche of its non-brokered private placement, raising $386,999.92 through the issuance of 2,444,445 common shares at $0.045 per share and 4,616,665 flow-thru shares at $0.06 per share. The second tranche is expected to close next week. The financing, conducted at a premium without warrants, saw strong insider participation with insiders purchasing 111,108 Common Shares and 583,335 FT Shares. Proceeds will fund exploration at the Louise copper-gold porphyry system in British Columbia and advance the Gold Range Project in Arizona. The shares are subject to a hold period until March 15, 2025.
CANEX Metals ha completato il primo lotto del suo collocamento privato non intermediato, raccogliendo $386.999,92 attraverso l'emissione di 2.444.445 azioni ordinarie a $0,045 per azione e 4.616.665 azioni flow-thru a $0,06 per azione. Si prevede che il secondo lotto si chiuda la prossima settimana. Il finanziamento, effettuato a un premio senza warrant, ha visto una forte partecipazione interna, con gli insider che hanno acquistato 111.108 azioni ordinarie e 583.335 azioni FT. I proventi saranno utilizzati per finanziarie l'esplorazione del sistema porfirico di rame-oro Louise nella Columbia Britannica e per far avanzare il Gold Range Project in Arizona. Le azioni sono soggette a un periodo di blocco fino al 15 marzo 2025.
CANEX Metals ha cerrado la primera tranche de su colocación privada no intermediada, recaudando $386,999.92 a través de la emisión de 2,444,445 acciones ordinarias a $0.045 por acción y 4,616,665 acciones flow-thru a $0.06 por acción. Se espera que la segunda tranche se cierre la próxima semana. La financiación, llevada a cabo a un precio superior sin opciones, vio una fuerte participación interna con insiders comprando 111,108 acciones ordinarias y 583,335 acciones FT. Los ingresos se destinarán a la exploración del sistema porfirio de cobre-oro Louise en Columbia Británica y a avanzar en el proyecto Gold Range en Arizona. Las acciones están sujetas a un período de bloqueo hasta el 15 de marzo de 2025.
CANEX Metals는 중개인 없이 진행한 사모 배정의 첫 번째 트랜치를 완료하고, $386,999.92를 모집하여 주당 $0.045로 2,444,445주, 주당 $0.06로 4,616,665주를 발행했습니다. 두 번째 트랜치는 다음 주에 마감될 예정입니다. 프리미엄으로 진행된 이 자금 조달은 워런트 없이 강한 내부 참여가 있었고, 내부자들은 111,108주의 보통주와 583,335주의 FT주를 구매했습니다. 수익금은 브리티시컬럼비아의 루이즈 구리-금 포르피리 시스템 탐사와 애리조나의 골드 레인지 프로젝트 진전을 위해 사용될 것입니다. 주식은 2025년 3월 15일까지 거래 제한에 적용됩니다.
CANEX Metals a clôturé la première tranche de son placement privé sans courtier, levant $386,999.92 par l'émission de 2.444.445 actions ordinaires à 0,045 $ chacune et 4.616.665 actions flow-thru à 0,06 $ chacune. La deuxième tranche devrait se clôturer la semaine prochaine. Le financement, réalisé à un prix supérieur sans bons de souscription, a connu une forte participation des initiés, qui ont acheté 111.108 actions ordinaires et 583.335 actions FT. Les produits serviront à financer l'exploration du système porphyrique de cuivre-or Louise en Colombie-Britannique et à faire avancer le projet Gold Range en Arizona. Les actions sont soumises à une période de blocage jusqu'au 15 mars 2025.
CANEX Metals hat die erste Tranche seiner nicht vermittelten Privatplatzierung abgeschlossen und $386.999,92 durch die Ausgabe von 2.444.445 Stammaktien zu je $0,045 und 4.616.665 Flow-Through-Aktien zu je $0,06 gesammelt. Die zweite Tranche soll nächste Woche abgeschlossen werden. Die Finanzierung, die ohne Warrants zu einem Aufschlag durchgeführt wurde, erlebte eine starke Insiderbeteiligung; Insidern kauften 111.108 Stammaktien und 583.335 FT-Aktien. Der Erlös wird zur Finanzierung von Explorationsarbeiten im Kupfer-Gold-Porphyr-System Louise in British Columbia und zur Weiterentwicklung des Gold Range Projekts in Arizona verwendet. Die Aktien unterliegen bis zum 15. März 2025 einem Halt Zeitraum.
- Raised $386,999.92 in first tranche financing
- Financing completed at premium to market price
- No warrants issued, preventing future dilution
- Strong insider participation demonstrates management confidence
- Share dilution from issuance of 7,061,110 new shares
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
CALGARY, AB / ACCESSWIRE / November 14, 2024 / CANEX Metals Inc. ("CANEX" or the "Company") is pleased to announce it has closed the first tranche of its previously announced non-brokered private placement consisting of 2,444,445 common shares ("Common Shares") at a price of
Highlights
Strong investor support to allow CANEX to conduct low-cost drill targeting at the large Louise copper-gold porphyry system in British Columbia (see Sept 24 News Release)
Funds to allow additional advancement of the Company's oxide gold project in Arizona
The financing was done at a premium to current market price and with no warrant, highlighting the strong potential of the Company's projects
There was strong insider participation in the financing
No finder's fees were issued in connection with the first tranche of the Offering. The common shares issued are subject to a four month hold period or until March 15, 2025.
In connection with the first tranche, insiders purchased a total of 111,108 Common Shares and 583,335 FT Shares. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the subject matter of the Private Placement does not exceed
Proceeds from the FT Shares will be used before December 2025 for general exploration expenditures at the Louise Property which will constitute Canadian exploration expenses within the meaning of subsection 66.1(6) of the Income Tax Act (Canada) (the "Tax Act"), that will qualify as "critical mineral flow through mining expenditures" within the meaning of the Tax Act. Proceeds from non-flow through Common Shares will be used to advance the Company's Gold Range Project and for general working capital.
About CANEX Metals
CANEX Metals (TSX.V:CANX) is a Canadian junior exploration company focused on advancing it's
Dr. Shane Ebert P.Geo., is the Qualified Person for CANEX Metals and has approved the technical disclosure contained in this news release.
"Shane Ebert"
Shane Ebert
President/Director
For Further Information Contact:
Shane Ebert at 1.250.964.2699 or
Jean Pierre Jutras at 1.403.233.2636
Web: http://www.canexmetals.ca
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.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of CANEX Metals Inc. internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause CANEX's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in CANEX's filings with the Canadian securities authorities. Accordingly, holders of CANEX shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.
SOURCE: CANEX Metals Inc.
View the original press release on accesswire.com
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