Metalex Closes First Tranche of Private Placement
METALEX CLOSES FIRST TRANCHE OF
PRIVATE PLACEMENT
KELOWNA, BC
,
Nov. 29, 2022
/CNW/ -
Metalex Ventures Ltd.
(TSXV: MTX) (the "Company")
announces that, further to its news releases of
November 22
,
November 25
and
November 28, 2022
announcing a private placement (the "Offering"), the Company has closed the first tranche of the
Offering (the "First Tranche") and has received
$1,142,100
by the issuance of 19,035,000 flow
through units (the "FT Units"). The FT Units were issued at
$0.06
per FT Unit and are comprised of a
flow through share and one-half of a non-flow through warrant. Each whole warrant entitles the
holder to acquire one common share of the Company at a price of
$0.08
for a term of eighteen
months from closing.
Proceeds from the First Tranche will be used to fund the upcoming drill program on the Company's
Quebec
project.
The Company is paying
$79,527
in finders' fees and is issuing 1,540,140 finders warrants in
connection with the First Tranche. The finders warrants have the same terms as the warrants
forming part of the FT Units but are non-transferable.
The securities issued in the First Tranche are subject to a four month hold period expiring on
March
30, 2023
.
Signed,
Chad Ulansky
Chad Ulansky
President and CEO
FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press
release constitute "forward-looking statements" or "forward-looking information", including
statements regarding the expected use of proceeds of the private placement. Further, any
statements or information that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future events or performance
(often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans",
"estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or
stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved, or the negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking statements or information. The
Company's forward-looking statements and information are based on the assumptions, beliefs,
expectations and opinions of management as of the date of this press release, and other than as
required by applicable securities laws, the Company does not assume any obligation to update
forward-looking statements and information if circumstances or management's assumptions,
beliefs, expectations or opinions should change, or changes in any other events affecting such
statements or information. For the reasons set forth above, investors should not place undue
reliance on forward-looking statements and information.
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.
SOURCE
Metalex Ventures Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/November2022/29/c1414.html
%SEDAR: 00008159E
For further information:
Metalex Ventures Ltd, Tel: +250-860-8599; Email:
CO: Metalex Ventures Ltd.
CNW 21:21e 29-NOV-22