Goldhills Holding Ltd. press release
Fieldex engages PowerOne Capital Markets for private placement of up to $3.25 million
TSXV - TSX Venture Exchange · Copper · Molybdenum · Silver · Gold · Zinc · Canada
ROUYN-NORANDA, QC, June 27 /CNW Telbec/ - Fieldex Exploration Inc. (FLX-TSXV AND F7E-FSE) is pleased to announce that it has engaged PowerOne Capital Markets Limited of Toronto, Ontario as its exclusive agent for a best-efforts private placement of a maximum of 5,000,000 units of Fieldex at a price of $0.65 per unit, for maximum gross proceeds to Fieldex of up to $3.25 million. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share at a price of $0.80 for a period of two years from the closing of the private placement.
The units will be sold to "accredited investors" in Quebec, Ontario, Alberta and British Columbia on a prospectus-exempt basis. Closing of the private placement is expected to occur on or about July 12, 2007.
The gross proceeds from the private placement will be used by Fieldex for its exploration program on its properties located in Quebec and for working capital and general corporate expenses.
In connection with the private placement, PowerOne Capital Markets Limited will receive a fee equal to 10% of the gross proceeds raised under the offering. In addition, Fieldex will issue a non-transferable compensation warrant to PowerOne Capital Markets Limited, entitling it to purchase that number of common shares of Fieldex which is equal to 8 % of the number of units sold in the private placement. The compensation warrant will be exercisable at a price of $0.65 per share for a period of two years from the closing of the private placement.
The private placement is subject to regulatory approval, including that of the TSX Venture Exchange, as well as the approval of the Board of Directors of Fieldex.
The securities issued in connection with the private placement will be subject to a four-month hold period under the policies of the TSX Venture Exchange and applicable securities legislation.
Forward-looking Statements
This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the ability of Fieldex to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements, including risks disclosed in filings with the Canadian securities regulators made by Fieldex. Accordingly, readers should not place undue reliance on forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
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