Pasinex arranges $500,000 private placement

Jun 27, 2014

PASINEX RESOURCES LTD. ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT

Pasinex Resources Ltd. has arranged a non-brokered private placement of up to 3,846,153 units at a subscription price of 13 cents per unit to eligible subscribers for gross proceeds of up to $500,000. 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 20 cents per warrant share for a period of three years from the closing. Finders’ fees or commissions may be payable by the company in connection with this private placement.

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.

The proceeds of this private placement are for the company’s general and administrative expenses, as well as for continuing exploration activity on the Pinargozu zinc-lead project in Adana province, Turkey. Pinargozu is 50 per cent owned by Pasinex’s partner in Adana, Akmetal Madencilik San ve Tic AS.

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