Amerigo Resources Ltd. press release
Fieldex completes $1.68 million private placement with PowerOne Capital Markets
TSX - Toronto Stock Exchange · Copper · Molybdenum · Silver · Canada
ROUYN-NORANDA, QC, Nov. 29 /CNW Telbec/ - Fieldex Exploration Inc. (FLX :TSXV, F7E: FSE) is pleased to announce that it has now closed its previously-announced brokered private placement offering with PowerOne Capital Markets Limited. Fieldex has completed the sale of 3,999,999 "flow-through" common shares at a price of $0.42 per share, for gross proceeds to Fieldex of $1.68 million. In connection with the private placement, Fieldex paid to PowerOne and to members of the selling group compensation comprised of a cash commission equal to 8% of the gross proceeds of the private placement as well as compensation options equal to 10% of the number "flow-through" common shares sold under the private placement. Each compensation option entitles the holder to acquire one common share of Fieldex, which is not a "flow-through" share, at $0.42 per share until November 28, 2008. Under applicable securities legislation and policies of the TSX Venture Exchange, all of the foregoing securities are subject to a hold period expiring on March 29, 2007. The proceeds from the private placement of the common shares will be used by Fieldex for its exploration program on its properties located in Quebec. As a result of the closing of the private placement, there are 31,105,541 common shares of Fieldex issued and outstanding with an actual cash position of $3.7 million.
About Fieldex:
Fieldex is a mineral resource company actively exploring in QuDebec for nickel-copper-platinum group metal deposits on its own and in joint ventures with Aurora Platinum Corp. (100% owned by FNX Mining Company) and for gold in joint ventures with Lake Shore Gold Corp. Fieldex also owns 100% of numerous prospective properties located through out Northern Quebec, representing over 600 km(2).
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.