Cap-Ex Ventures Ltd.

Cap-Ex Ventures Ltd.

December 22, 2011 00:07 ET

Cap-Ex Ventures Closes First Tranche of Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2011) - Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:X0V) -


Cap-Ex Ventures Ltd. ("Cap-Ex" or the "Company") is pleased to announce that it has closed the first tranche (the "First Tranche") of its private placement financing (the "Private Placement") first announced on December 2, 2011.

The First Tranche was comprised of 3,915,810 units (the "Units"), each Unit comprised of one common share (the "Shares") and one share purchase warrant (the "Warrants") exercisable for a period of two (2) years at an exercise price of $0.95 per share. Each Unit was sold for $0.85 per Unit.

Proceeds from this First Tranche of the Private Placement totalled $3,328,438.50. The First Tranche of the Private Placement was comprised primarily of flow-through Units which were required to close prior to December 31, 2011. It is anticipated that the second tranche (the "Second Tranche") of the Private Placement, comprised of non flow-through Units and for proceeds of $6,871,561.50, is expected to close no later than January 15, 2012.

The Company expects to use most of the proceeds of the Private Placement for further exploration and development of the Company's Labrador properties and for general working capital purposes.

The Shares comprising part of the Units and any common shares issued upon exercise of the Warrants are subject to regulatory and Exchange hold periods such that they cannot be traded or resold until April 22, 2011.


As announced in the Company's news release of December 19, 2011, Francois Laurin and Brian Penney have joined the Board of Directors of the Company (replacing Christopher Farber and Edward Kruchkowski, who have resigned) concurrently with the closing of the First Tranche of the Private Placement.

In addition, Francois Laurin has been appointed President and CEO of the Company, effective immediately, in place of Brett Matich who has resigned as President and CEO but remains a Director of the Company.

Francois Laurin, the new President and Chief Executive Officer of Cap-Ex, stated, "With the closing of the private placement, Cap-Ex gets an early start to 2012. We expect 2012 to feature an aggressive exploration program culminating in an initial mineral resource estimate, continued positive development of relations with local communities and aboriginal groups and a build out of the Cap-Ex team to supplement current technical and operational expertise." He continued, "Brian Penney and I are honoured to join the Cap-Ex team and look forward to an exciting and milestone driven 2012."

For additional information please visit the Company's website at


Francois Laurin, President and CEO

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the terms and closing date of the financing, the projected use of proceeds from the financing and the impact of the board and management appointments on the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.

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