Robex Announces a Non-Brokered Private Placement for Up to $2,000,000
QUEBEC CITY, QUEBEC -- (Marketwire) -- 05/04/11 -- Robex Resources Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) is pleased to announce a non-brokered placement for up to $2,000,000. A first tranche of $1,500,000 is already closed.
Each unit, priced at $0.27, consists of one common share of the Company and one-half (1/2) common share purchase warrant. Each full warrant entitles the holder to purchase one additional common share of the Company at $0.30 per share, valid for a period of two years following the closing of this private placement. The warrants are subject to an accelerated expiry if the shares trade at a closing price equal or superior to $0.40 for 20 consecutive trading sessions.
A first tranche of 5,555,555 units ($1, 500, 000), made from five European funds, has been closed. Regarding this first tranche, a third party received a finder's fee of $75,000, and also 444,444 warrants, which have the same characteristics as those under the private placement.
The securities issued in this private placement are subject to a four-month hold period under applicable securities legislation and the policies of the TSX Venture Exchange. This placement has received conditional approval from the TSX Venture Exchange.
Net proceeds from this financing will be used, among others, to increase diamond drillings on Nampala, from 2,200 meters to 5,000 meters.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Investor relations
Andre Gagne
President and CEO
418-527-5023
a.gagne@robexgold.com
Skype: andregagne1