- Luminex Resources Corp. (LR) is upsizing its non-brokered private placement for gross proceeds of up to C$9 million
- The company will issue up to 23,690,000 units at a price of $0.38 per unit
- Net proceeds will be used for drilling work at its Condor project
- Luminex Resources Corp. is a Canada-based precious and base metals exploration and development company
- Luminex Resources Corp. (LR) is down 9.09 per cent on the day, trading at $0.40 per share at 1:15 pm ET
Luminex Resources Corp. (LR) is upsizing its non-brokered private placement for gross proceeds of up to C$9 million.
The company will issue up to 23,690,000 units at a price of $0.38 per unit. Each unit will include one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at a price of C$0.55 for 24-months following the closing of the offering.
Ross Beaty intends to subscribe for approximately C$1.8 million of the offering.
Net proceeds will be used for drilling work at its Condor project and for general corporate purposes.
The offering is scheduled to close on or about April 28, 2022.
The securities issued will be subject to a statutory four-month hold period.
Luminex Resources Corp. is a Canada-based precious and base metals exploration and development company focused on gold and copper projects in Ecuador.
Luminex Resources Corp. (LR) is down 9.09 per cent on the day, trading at $0.40 per share at 1:15 pm ET.
