This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Geodex Minerals arranges 15-million-unit financing 2009-11-04 09:19 ET - News Release Mr.
Mark Fields reports GEODEX ANNOUNCES UNIT PRIVATE PLACEMENT
Geodex Minerals Ltd. has engaged Vicarage Capital Ltd. (VCL) of London, England, as agent, to assist in the private placement of up to 15 million units of Geodex at 15 cents per unit. Each unit will comprise one common share and one-half warrant. Each full warrant is exercisable into one additional Geodex common share at 25 cents per share for a period of 24 months from closing. Proceeds from the private placement will be used to advance the prefeasibility study for Geodex's Sisson Brook project and for general corporate purposes.
VCL will receive a cash commission of 8 per cent of the proceeds that it raises and broker's warrants equal to 8 per cent of the number of units that it places. The broker's warrants will be exercisable for a period of 24 months at a price of 15 cents per share. All securities issued on the proposed private placement will be subject to a four-month hold period. Not more than 20 per cent of the private placement will be subscribed for by non-arm's-length parties. The private placement is subject to TSX Venture Exchange approval. The private placement will not result in a change of control of Geodex. The remainder is available to Stockwatch subscribers.
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