NGEx Resources arranges $34-million private placement

2013-01-14 17:06 ET - News Release


Mr. Wojtek Wodzicki reports


NGEx Resources Inc. will sell, on a non-brokered, private-placement basis, an aggregate of up to 10 million common shares at a price of $3.40 per share for gross proceeds of up to $34-million.

A 4-per-cent finder's fee may be payable on all or a portion of the private placement.

Net proceeds of the private placement will be used toward the company's continuing work program in Chile and Argentina, as well as for general working capital purposes.

Shares issued pursuant to the private placement will be subject to a four-month hold period under applicable Canadian securities laws.

The private placement is subject to regulatory approval.

We seek Safe Harbor.