Temex Resources Corp. (TSX Venture Exchange: TME, Frankfurt:TQ1) announces the closing of a non-brokered private placement of 2,352,940 flow-through shares at a price of $0.85 per share, raising gross proceeds of approximately $2,000,000.
In connection with the Offering, the Company paid an aggregate finder's fee comprised of $140,000 cash and 164,706 non-transferable warrants of the Company. Each Finder Warrant entitles the holder to purchase one common share of the Company at a price of $1.10 until December 27, 2009.
The proceeds of the Offering will be used to advance the Company's McFaulds Lake area land holdings, the Whitney Township Gold Property in Timmins, and the Gowganda Silver Property in Gowganda, Ontario, as well as the Company's other mineral properties.
The securities issued under the Offering are subject to a hold period expiring on April 28, 2008. Temex is a Canadian exploration company focused on advancing its extensive property portfolio. -- www.cnxmarketlink.com
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