Plexmar Resources Inc.
TSX VENTURE : PLE

Plexmar Resources Inc.

June 30, 2009 17:28 ET

Plexmar Resources Inc. Completes $517,500 Private Offering

QUEBEC CITY, QUEBEC--(Marketwire - June 30, 2009) - DISTRIBUTION OF THIS NEWS RELEASE IS RESTRICTED SOLELY TO CANADA. IT CANNOT BE DISTRIBUTED IN THE UNITED STATES THROUGH U.S.-BASED WIRE SERVICES.

Plexmar Resources Inc. ("Plexmar")(TSX Venture:PLE) is pleased to confirm that it has completed today a private offering for a gross amount of $517,500. The offering is a first tranche of a private offering which may reach a maximum of $1,000,000 and consisted in the issuance of a total of 4,704,549 units (the "Units") at a price of $0.11 per Unit. Each Unit is comprised of one Plexmar common share and one common share purchase warrant. Each whole common share purchase warrant entitles its holder to subscribe to one additional common share for a period of 2 years at a price of $0.20 per share for the first year and then $0.25 for the second year. The Plexmar intends to use the proceeds of this private offering for the implementation of its exploration programs and for its working capital.

For the purposes of this private offering, Plexmar has granted to some intermediaries a total cash compensation of $16,720 and a total of 96,000 broker warrants exercisable for a 2 year period after the closing of the offering entitling the holders to subscribe to one additional common share for a period of 2 years at a price of $0.20 per share for the first year and then $0.25 for the second year.

Securities issued as part of this offering are subject to a four-month hold period under applicable securities legislation.

FORWARD LOOKING STATEMENTS

This news release contains certain forward-looking statements. These statements relate to future events or Plexmar's future economic performance, and carry risks, uncertainties and other factors - both known and unknown - that may appreciably affect the company's accomplishments, economic performance or results when considered in light of the content or implications of statements made by Plexmar. Actual events or results could be significantly different. Plexmar undertakes no obligation, and does not intend, to update these forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    President and Chief Executive Officer
    418-658-6776