Vantex Resources Ltd.
TSX VENTURE : VTX

Vantex Resources Ltd.

December 14, 2007 13:48 ET

Vantex Resources Ltd. Completes Private Placement for $1,089,425 Led by Northern Securities Inc.

LA PRAIRIE, QUEBEC--(Marketwire - Dec. 14, 2007) - THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. NOTHING CONTAINED HEREIN CONSTITUTES AN OFFERING OF SECURITIES OF THE CORPORATION IN THE UNITED STATES

Vantex Resources Ltd. (TSX VENTURE:VTX) (the "Company") is pleased to announce that it has completed its previously-announced private placement of flow-through units and non flow-through units. Northern Securities Inc. acted as agent in the private placement. The gross proceeds to the Company amount to $1,089,425.

At the closing, the Company issued 3,373,709 flow-through units at a price of $0.155 per unit, for gross proceeds to the Company of $522,925. Each flow-through unit consists of one common share and one-half of one common share purchase warrant. Each full common share purchase warrant entitles the holder thereof to purchase one additional common share of the Company for a period of 24 months from the closing date at a price of $0.185 per share.

The Company also issued 4,357,692 non flow-through units at a price of $0.13 per unit, for gross proceeds to the Company of $566,500. Each non flow-through unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder thereof to purchase one additional common share of the Company for a period of 24 months from the closing date at a price of $0.155 per share.

In connection with the private placement, in addition to the payment of a cash commission of 8% of the gross proceeds of the private placement, the Company issued to Northern Securities: (i) a non-transferable option to purchase 337,370 units, a number of units equal to 10% of the aggregate number of flow-through units sold further to the private placement at a price of $0.155 per unit, whereby each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire one (1) additional common share at a price of $0.185 per share for a period of twenty-four (24) months following the closing; and (ii) a non-transferable option to purchase 435,769 units, a number of units equal to 10% of the aggregate number of non flow-through units sold pursuant to the private placement at a price of $0.13 per unit, whereby each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire one (1) additional common share at a price of $0.155 per share for a period of twenty-four (24) months following the closing.

The net proceeds from the private placement will be used for exploration in the Company's properties and for the Company's general purposes.

Under applicable securities legislation and the policies of the TSX Venture Exchange, the common shares and warrants comprising the units are subject to a four-month hold period expiring on April 14, 2008.

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

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