Home » News » Pasinex Resources closes $251,500 private placement

Pasinex Resources closes $251,500 private placement

Dec 16, 2013

PASINEX RESOURCES LTD. ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT CLOSES

Pasinex Resources Ltd. has closed a non-brokered private placement of 3,869,231 units at a subscription price of 6.5 cents per unit to eligible subscribers for gross proceeds of $251,500.

Each unit will consist of one common share and one-half of a share purchase warrant. Each whole warrant will be exercisable into one additional common share of the company at 10 cents per warrant share for a period of three years from the closing.

The common shares issued or issuable pursuant to the private placement will be restricted from trading for a four-month hold period in accordance with applicable securities laws and, if required, the policies of the exchange.

A finder’s fee of $4,000 is payable in connection with this private placement.

The proceeds of this private placement are for the company’s general and administrative expenses as well as for continuing exploration activity in Turkey, with specific focus given to the Golcuk copper-silver project in Sivas province and the Horzum zinc-lead project in Adana province.

We seek Safe Harbor.

http://pasinex.com/press-releases/