- Essex Minerals (ESX) has closed the first tranche of its non-brokered private placement for gross proceeds of $744,500
- The company issued 37,225,000 units at $0.02 per unit
- The company expects to close the offering by October 5, 2022
- Essex Minerals is a Canada-based company engaged in the exploration of mineral properties
- Essex Minerals (ESX) opened trading at C$0.025
Essex Minerals (ESX) has closed the first tranche of its non-brokered private placement, raising $744,500 in gross proceeds.
The company issued 37,225,000 units at $0.02 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share for a period of 60 months from the date of closing.
The company expects to close the offering by October 5, 2022.
The company paid $22,820 and issued 1,141,000 finder’s warrants to Canaccord Genuity Corp and $7,000 and 350,000 finder’s warrants to Primary Capital Inc.
All securities issued are subject to a statutory four-month hold period.
Net proceeds from the financing will be used for general working capital purposes, its mineral project and royalty generative activities and exploration expenditures on its existing mineral projects.
Essex Minerals is a Canada-based company engaged in the exploration of mineral properties.
Essex Minerals Inc. (ESX) opened trading at C$0.025.