International Enexco Closes Non-Brokered Flow-Through Private Placement With Proceeds of $750,000
05 Dicembre 2013 - 10:43PM
Marketwired
International Enexco Closes Non-Brokered Flow-Through Private
Placement With Proceeds of $750,000
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 5, 2013) -
International Enexco Limited
(TSX-VENTURE:IEC)(OTCQX:IEXCF)(FRANKFURT:IE6) (the "Company" or
"Enexco") pleased to announce that further to its December 2, 2013
news releases, announcing a non-brokered private placement of
2,343,750 Flow-Through Units at a price of CDN$0.32 per unit, on a
non-brokered private placement basis, the Company has completed and
closed its offering for aggregate proceeds of CDN$750,000. All
other information from the news release dated December 2, 2013
remains the same.
The net proceeds from the private placement will be used to fund
Enexco's CDN$870,000 portion of the forthcoming CDN$2.9 million
drill program at the Mann Lake uranium joint venture project in
Saskatchewan's Athabasca Basin. Mann Lake is a joint venture
consortium project with International Enexco and two of the world's
leading uranium companies (Cameco (52.5%) as operator, Enexco (30%)
and AREVA (17.5%). (Please see International Enexco November 13,
2013 news release at www.enexco.ca for additional information.)
The Company will pay CDN$60,000 and issue 93,750 Warrants in
finder's fees in connection with the closing of the placement. All
of the securities issuable in the placement are subject to a hold
period ending on April 6, 2014.
About International Enexco Ltd.
International Enexco Limited is a North American exploration and
development company focused on the feasibility stage, 100% owned,
Contact Copper project in northern Nevada and the Mann Lake and
Bachman Lake Uranium projects located in Saskatchewan's prolific
Athabasca Basin. The Bachman Lake project is a joint venture with
Denison (80%) as operator and Enexco (20%).
On behalf of the Board of Directors,
G. Arnold Armstrong, President & CEO
Certain information regarding the Company including
management's assessment of future plans and operations, may
constitute forward-looking statements under applicable securities
laws and necessarily involve risks associated with mining
exploration and development, volatility of prices, currency
fluctuations, imprecision of resource estimates, environmental and
permitting risks, access to labour and services, competition from
other companies and ability to access sufficient capital. As a
consequence, actual results may differ materially from those
anticipated in the forward-looking statements. A feasibility study
has not been completed and there is no certainty the disclosed
targets will be reached nor that the proposed operations will be
economically viable. The TSX Venture Exchange or its Regulation
Services Provider have not reviewed and do not accept
responsibility for the adequacy or accuracy of the contents of this
news release, which has been prepared by management. We seek safe
harbour.
International Enexco LimitedSpiros Cacos+1 604 669 8368+1 604
662 3691info@enexco.cawww.enexco.ca
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