- ATEX Resources (ATX) has completed its brokered private placement financing raising gross proceeds of $8,521,500
- The company issued a total of 59,800,000 units at a price of $0.1425 per unit
- ATEX intends to use the proceeds to advance the company’s Valeriano Copper Gold Project
- ATEX is a mineral exploration company focused on the development of projects throughout the Americas
- ATEX Resources Inc. (ATX) is down 12.82 per cent on the day, trading at C$0.34 per share at 2:15 pm EST
ATEX Resources (ATX) has completed its brokered private placement financing raising gross proceeds of $8,521,500.
The company issued a total of 59,800,000 units at a price of $0.1425 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable to acquire one common share at a price of $0.22 for a period of 36 months from the closing of the offering.
Desjardins Capital Markets acted as sole bookrunner and agent. ATEX paid the agent a commission of $296,075.
Raymond Jannas, President and CEO of ATEX commented on the offering.
“We are very pleased with the extraordinarily positive response to our private placement financing. In light of the successful financing, during the upcoming Valeriano drill campaign we expect we will be able to outline the continuity and extent of the significant copper gold mineralization, which has been demonstrated by intercepts that include 0.73 per cent copper equivalent over 1,194 metres, from the Valeriano copper gold porphyry.”
ATEX intends to use the proceeds to advance the company’s Valeriano Copper-Gold Project and for general corporate purposes.
All securities issued today are subject to a statutory hold period of four months and one day from the date of issuance. The hold period will end on April 3, 2022.
The TSXV has conditionally approved the issuance of securities but the issuance remains subject to their final approval.
ATEX is a mineral exploration company focused on the development of projects throughout the Americas. ATEX’s flagship Valeriano Copper-Gold Project is located in Chile’s prolific El Indio Mineral Belt.
ATEX Resources Inc. (ATX) is down 12.82 per cent on the day, trading at C$0.34 per share at 2:15 pm EST.
