KELOWNA, BC, Dec. 11, 2020 /CNW/ - Metalex Ventures
Ltd. (TSXV:MTX) (the "Company") announces that it
intends to carry out a private placement to raise up to
$1,200,000 (the "Offering").
The Offering is made up of a combination of flow through shares
(the "FT Shares") at a price of $0.085 per FT Share and non-flow through units at
a price of $0.07 per unit (the
"Units"). Each Unit is comprised of one non-flow through common
share and one-half of one share purchase warrant, with each whole
warrant exercisable at a price of $0.10 for a period of two years.
Finders fees will be payable in accordance with the policies of
the TSX Venture Exchange and the Offering remains subject to
acceptance by the TSX Venture Exchange.
Securities issued in connection with the Offering will be
subject to a four month hold period from closing of the
Offering.
Proceeds from the sale of the FT Shares will be used to finance
qualified exploration on the Company's three recently staked gold
claims in Quebec and exploration
in search of up-ice source areas of 46 additional highest priority
gold anomalies, all as more particularly detailed in the Company's
news release of December 3, 2020.
Proceeds from the sale of the Units will be used to advance the
recently acquired Viljoenshof Diamond Project in South Africa (see Company's news release of
December 4, 2020) and for general
working capital.
Signed,
Charles Fipke
Charles Fipke
Chairman
Forward Looking Statements
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and
uncertainties. Without limitation, statements regarding
potential mineralization and resources, exploration and financing
results, and future plans and objectives of the Company are forward
looking statements that involve various risks. The following
are important factors that could cause the Company's actual results
to differ materially from those expressed or implied by such
forward looking statements: changes in the world wide price of
mineral commodities, general market conditions, risks inherent in
mineral exploration, risks associated with development,
construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital.
There can be no assurance that forward-looking statements will
prove to be accurate as actual results and future events may differ
materially from those anticipated in such statements. In
particular there is no assurance that the Offering detailed herein
will complete in full or at all. Metalex undertakes no obligation
to update such forward-looking statements if circumstances or
management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on such forward-looking
statements.
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.
SOURCE Metalex Ventures Ltd.
