CANEX Announces Closing of First Tranche in Non-Brokered Private Placement
CANEX ENERGY CORP.
202 – 837 West Hastings Street Vancouver, BC, V6C 3N6
CANEX ANNOUNCES CLOSING OF FIRST TRANCHE IN NON-BROKERED PRIVATE PLACEMENT
June 2, 2015 – Vancouver, BC - Canex Energy Corp. (“Canex” or the “Company”) (TSXV: CSC) is pleased to announce that it has closed the first tranche of its previously announced $500,000 non-brokered private placement (the “Financing”), as described in its press release dated May 14, 2015 by issuing in the aggregate 4,050,000 units for aggregate gross proceeds of $202,500.
Each unit is priced at $0.05 per unit and is comprised of one common share of the Company and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional common share of the Company at a price of $0.10 per share for a period of one year from the date of closing.
All of the first tranche units are subject to a hold period expiring on October 3, 2015. A cash finder’s fee of $1,500 was paid to Buffalo Associates Limited.
About Canex Energy Corp.
Canex Energy Corp. is a Canadian-based resource company focused on uranium in Saskatchewan's Athabasca Basin - the world's largest source of high-grade uranium in British Columbia. The company has a joint venture with Fission 3.0 Corp. to explore the Clearwater West property at which Fission’s award-winning technical team will be the Operator. Canex also has a large, strategically located property at Lorne Lake and three newly acquired uranium properties in the Athabasca Basin along with a gold/copper project in British Columbia.
On behalf of the Board, Peter G. Wilson, CEO
For information contact: Brian Biles, Director TEL: 604 687 7742 [email protected]
Neither 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.
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund the option earn-in on the Clearwater West property and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company’s filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.