ROBEX RESOURCES ANNOUNCES $5.0 MILLION BROKERED PRIVATE PLACEMENT FINANCING
Robex Resources Inc. (TSX VENTURE:RBX) ("Robex" or the "Company") is pleased to announce a brokered private placement of up to $5.0 million on a reasonable commercial efforts basis (the “Financing”) at a price of $0.23 per unit (the “Unit”).
The Financing will be led by NCP Northland Capital Partners Inc. (the “Agent”). In addition, the Company will grant to the Agent exercisable in whole or in part by notice given at any time up until the closing of the Financing, an overallotment option, to offer for sale additional Units of up to 15% of the Units sold under the Financing.
Each Unit will consist of one common share of the Company (a " Common Share") and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share for a period of eighteen months, at a price of $0.35 per common share.
The net proceeds from the Financing will be used to fund the development of the Nampala Gold Project and for working capital purposes.
Mr.Andre Gagne President & CEO commented: "This is our first tranche of equity financing toward the realisation of the Nampala project construction which will allow us to order some key long lead-time equipment such as the ball mill. Negotiations are on-going with the Mali government for the delivery of the Production Permit and the Environmental Permit has been received. Upon delivery of the Production Permit Robex intend to complete its debt financing with a bank consortium.
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Marc Boisjoli, M.Sc.
Vice-president Finances / CFO
HKDP Communications and public affairs
514-395-0375, ext. 259