QUEBEC CITY, QUEBEC--(Marketwire - July 7, 2011) - Robex Resources Inc. (TSX VENTURE:RBX)(FRANKFURT:RB4) announces the closing to a final amount of 1,500,000$ the private placement announced in the press release of May 3rd.
Each unit, priced at $0.27, consists of one common share of the Company and one-half (½) common share purchase warrant. Each full warrant entitles the holder to purchase one additional common share of the Company at $0.30 per share, valid for a period of two years following the closing of this private placement. The warrants are subject to an accelerated expiry if the shares trade at a closing price equal or superior to $0.40 for 20 consecutive trading sessions.
Regarding this placement of 5,555,555 units ($1, 500, 000) made from five European funds, a third party received a finder's fee of $120,000 and issued a total of 1,388,888 common share purchase warrants, each entitling to purchase one additional common share of Robex at $0.30 for a period of 3 years. These warrants are subject to an accelerated expiry if the common shares trade at a closing price equal or superior to $0.40 for 20 consecutive trading sessions.
The securities issued in this private placement are subject to a four-month hold period under applicable securities legislation and the policies of the TSX Venture Exchange. This placement has received conditional approval from the TSX Venture Exchange.
Net proceeds from this financing will be used, among others, to increase diamond drillings on Nampala, from 2,200 meters to 5,000 meters.
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.
Contact Information:
Andre Gagne
President and CEO
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11