Business & Finance
Business and Finance
Business and Finance
Thu, January 29, 2009Wed, January 28, 2009Tue, January 27, 2009Mon, January 26, 2009Sat, January 24, 2009Fri, January 23, 2009Thu, January 22, 2009Wed, January 21, 2009Plexmar Resources Inc.: Plexmar Resources Inc.: Private Placement Proposed
Published in Business and Finance on Monday, January 26th 2009 at 15:32 GMT, Last Modified on 2009-01-26 15:32:37 by Market Wire
QUEBEC CITY, QUEBEC--(Marketwire - Jan. 26, 2009) - Plexmar Resources Inc. (TSX VENTURE:PLE) is pleased to announce that it proposes to complete a non-brokered private placement pursuant to which it will issue up to 20,000,000 units ("Units") at a price of $0.05 per Unit to raise aggregate gross proceeds of up to $1,000,000. Each Unit will consist of one common share and one share purchase warrant, each whole such share purchase warrant entitling the holder thereof to acquire one additional common share for a period of 24 months at an exercise price of $0.10 per share. The Company may recall the warrants, at its own choice, should the closing price of the shares are at least $0.18 for a period of 10 continuous days. The Corporation will send a formal notice to all shareholders following after they will have a period of 30 days to exercise part or all their warrants. The warrants will expire 30 days after the notice is issued.
The proceeds will be used for the exploration program in Peru and working capital.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
143 M shares outstanding
The private placement remains subject to the final approval of the TSX Venture Exchange. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
