- FenixOro Gold (FENX) has closed its non-brokered private placement for gross proceeds of $2,449,000
- The company raised gross proceeds of $2,080,000 under the second tranche
- Under the second tranche, the company issued a total of 11,555,555 units at $0.18 per unit
- Net proceeds will be used to continue its Phase 2 drilling program at the Abriaqui Project
- FenixOro Gold Corp is a Canada-based company acquiring and exploring high-grade gold projects in Colombia
- FenixOro Gold Corp (FENX) opened trading at $0.15
FenixOro Gold (FENX) has closed its non-brokered private placement for gross proceeds of $2,449,000.
Under the second tranche, the company issued a total of 11,555,555 units at $0.18 per unit for gross proceeds of $2,080,000. Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable for one additional common share for a period of two years.
The total gross proceeds raised under the placement totals $2,449,000, exceeding the company’s intended minimum raise.
Net proceeds will be used to continue its Phase 2 drilling program at the Abriaqui Project.
All securities issued are subject to a statutory four-month hold period.
FenixOro issued 30,00 broker warrants to arm’s length parties. Each such broker warrant entitles the holder to acquire one common share of the company at an exercise price of $0.23 for a period of 24 months.
FenixOro Gold Corp is a Canada-based company acquiring and exploring high-grade gold projects in Colombia. The company’s flagship Abriaqui Project is the nearest exploration project to Continental Gold’s Buritica Mine.
FenixOro Gold Corp (FENX) opened trading at $0.15.