Business & Finance
Business and Finance
Business and Finance
Tue, April 9, 2013 
April 09, 2013 07:00 ET
Prominex Resource Corp. Closes Financing at $320,550
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 9, 2013) - Prominex Resource Corp. (the "Company" or "Prominex") (TSX VENTURE:PXR) - The Company has closed the private placement announced on April 5th, 2013. Prominex placed 21,370,000 Units priced at $0.015 for net proceeds of $320,550. Each Unit comprises one common share and one full share purchase warrant. Each warrant is exercisable into one common share for a period of 12 months from closing at a price of $0.05 per share. All values are in Canadian dollars unless otherwise specified. No fees or commissions were incurred.
The Company will use the proceeds from the transaction to satisfy current liabilities and for general working capital and to further exploration efforts at the Tulks Hill and Lake Bond base metal properties located in central Newfoundland.
The private placement is subject to the receipt of all necessary approvals of the TSX Venture Exchange, completion of definitive documentation and the receipt of all necessary third party approvals.
Upon the necessary approvals the Company would have 83,690,890 shares issued and outstanding. On a fully diluted basis there would be 109,961,780 shares issued and outstanding. This figure includes 21,370,000 warrants from this private placement and 4,900,000 share purchase options granted to directors.
ON BEHALF OF THE BOARD
Gordon Barron, President and CEO
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX V) accepts responsibility for the adequacy or accuracy of this release, and no securities regulatory authority has approved or disapproved of the contents of this release.
