Cap-Ex Ventures announces private financing for $10.2 million
Cap-Ex Ventures announced this morning a non-brokered private placement financing for the sale of 12 million units at $0.85 cents per unit for total gross proceeds of $10.2 million. Each unit is to consist of one common share of the company and one share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at the exercise price of $0.95 for a period of two years.
The announcement comes right after the company reported positive drilling results from the freshly identified Northwest zone that is situated in the Block 103 iron ore property, Quebec.
