Plexmar Resources Inc.

Plexmar Resources Inc.

July 05, 2005 11:42 ET

Plexmar Resources Inc.: First Closing

QUEBEC CITY, QUEBEC--(CCNMatthews - July 5, 2005) - Plexmar Resources Inc. (TSX VENTURE:PLE), announces that it has closed a first tranche of $150,000 of a private placement. The Offering consists of a private placement of Units, at $0.08 per unit. Each Unit is comprised of one (1) common share in the capital of the Corporation ("Common Share") and one half (1/2) Common Share purchase warrant ("Warrant"). Each one (1) whole Warrant is exercisable for one (1) Common Share at a price equal to $0.12 ("Warrant Strike Price") for a period of eighteen (18) months from the Closing of the Private Placement. The minimum offering is $150,000 and the maximum $1,200,000. All shares and warrants issued are subject to a four month hold period.

The balance of the placement is expected to close at the end of July.

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

46 M shares outstanding

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    (418) 658-6776
    (418) 658-8605 (FAX)
    Paradox Public Relations
    1 (514) 341-0408