Temex Resources Corp.

April 12, 2006 08:09 ET

Temex Arranges a $5 Million Common Share Financing

TORONTO, ONTARIO--(CCNMatthews - April 12, 2006) -

Not for distribution to U.S. Newswire Service or for Dissemination in the United States

Temex Resources Corp. ("the Company") is pleased to announce that it has entered into an agreement with a syndicate led by National Bank Financial Inc. for a "best efforts" private placement of up to 7,142,860 units at a price of $0.70 per unit for gross proceeds of approximately $5,000,002. Each whole common share purchase warrant will entitle the holder to purchase one common share of the Company at a price of $0.85, until October 27th, 2007. The offering is scheduled to close on or before April 27th, 2006 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.

Gross proceeds from the offering will be used to fund development work on the Company's Canadian properties, and for general corporate purposes.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer of securities for sale in the United States or Canada or the solicitation of an offer to buy securities in the United States or Canada, nor shall there be any sale of the securities in any jurisdiction or state in which such offer, solicitation or sale would be unlawful.

Temex Resource Corporation, a Canadian exploration company is focused on aggressively exploring and developing its precious metals projects in northeastern Ontario, while advancing it's Wilson Lake diamond project primarily in northeastern Ontario.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Contact Information

  • Temex Resources Corp.
    Ian Campbell
    President & CEO
    (416) 862-2246