Erdene Resource Development Corporation press release
Metalex Completes Private Placement
TSX - Toronto Stock Exchange · Gold · Silver · Lead · Zinc · Molybdenum · Antimony · Copper · Canada
LOWNA, BC, May 11 /CNW/ - Metalex Ventures Ltd ("MTX - TSX Venture Exchange") (the "Company"). Further to its news release of March 14, 2005, the Company announces that it has completed its private placement in the amount of $2,300,000, comprised of $1,300,000 in common shares and $1,000,000 in flow- through shares. In recognition of market conditions, the private placement was ultimately priced at $0.85 per share. A 7 per cent cash commission in connection with the $1,000,000 flow through funds will be paid. Proceeds from the private placement will be used to advance the Company's diamond explorations projects. Closing of the private placement remains subject to the acceptance of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
"Peter Gregory"
Peter Gregory, President METALEX VENTURES LTD.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein. %SEDAR: 00008159E