Twitter Facebook LinkedIn YouTube

Fieldex Exploration (TSXV:FLX) has announced a non-brokered private placement

Video Platform Video Management Video Solutions Video Player

The company is looking to raise gross proceeds of up to $1 million from the placement of up to 8,333,333 units priced at $0.12 per unit. The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.225 for 36 months.

Additional Information:

Company: Fieldex Exploration
Website: http://www.FieldexExploration.com
Stock Symbol: TSXV: FLX
Date Published: Jul 16, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Fieldex Exploration, a mineral resource company actively exploring in Québec, has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1 million from the placement of up to 8,333,333 units priced at $0.12 per unit.

The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.225 for 36 months.

The shares are currently trading at $0.15.

The proceeds from the private placement may be used by Fieldex for payments under the Mineral Option Agreement announced today or for general working capital purposes.

Fieldex signed an option agreement with Vantex Resources to acquire a 100% interest in the Galloway Property.

The Galloway project comprises over 2,447 hectares, 63 claims and 3 mining concessions sand is located in the Dasserat Township, less than 30 kilometres west of the Rouyn-Noranda mining district in Abitibi.

It lies between two historic gold mines; the Rouyn-Noranda mining camp which produced 18.5 million ounces of gold, and the Kerr Addison Mine which produced 10 million ounces of gold.

Upon TSX Venture Exchange approval of the agreement, Fieldex must pay $250,000 to Vantex Resources and pay an additional $750,000 in three tranches of $250,000 each over a period of nine months from the Effective Date.

In addition, in the event Fieldex exercises its option and thereafter receives a technical report qualifying a minimum of 500,000 ounces of gold as "indicated resources", it must pay an additional $500,000 to Vantex Resources.

In the event the technical report qualifies a minimum of 1,000,000 ounces of gold as "indicated resources", the amount will increase to $1,000,000.

Fieldex is headed by newly appointed President and CEO Thibaut Segeral, a successful serial entrepreneur with strong business relationships in Europe, including in the financial community and in the mining industry.

For more information on the company and its other properties, please visit the company’s website at www.FieldexExploration.com, contact Thibaut Segeral, President & CEO, at 819-762-0609 or by email at ThibautSegeral@gmail.com.

I’m Cassandra Bolinski for Investmentpitch Media