Cap-Ex Iron Ore Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Cap-Ex Iron Ore Ltd Closes Non-Brokered Private Placement of $2,073,000
Cap-Ex Iron Ore Ltd announced that it has closed a private placement of 20,730,000 units (the Units) at a price of $0.10 per Unit for proceeds of $2,073,000. Each Unit is comprised of one common share (the Shares) and one share purchase warrant (the Warrants). Each Warrant entitles the holder to purchase one common share (the Warrant Shares) of the Company at an exercise price of $0.20 for a period of 24 months from the date of issue. The holders of the Shares and any Warrant Shares issued may not engage in the sale of Shares or Warrant Shares until September 25, 2013. The Warrants contain certain accelerated exercise clauses. At any time after four months and one day from the date of the closing of the Offering, if the volume weighted average trading price of the common shares of the Company on the TSXV Exchange is greater than $0.50 per share for 20 consecutive trading days, the Company may give written notice to warrant holders that the Warrants will expire 30 calendar days after the dates of such notice. The Offering was first announced on March 22, 2013 and the terms of the Offering were later amended on April 15, 2013. The Company intends to use the net proceeds of the Offering to continue to advance its Block 103 Project with a 2013 drilling program, to seek a strategic partner and to apply towards general working capital purposes.
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