Robex Closes First Tranche of Private Placement Financing
March 15 2012 - 5:11PM
Marketwired
Robex Resources Inc. ("Robex" or the "Company") (TSX
VENTURE:RBX)(FRANKFURT:RB4) is pleased to announce it has completed
the first tranche of its previously announced private placement of
13,967,699 units of the Company (the "Units") at a price of $0.23
per Unit for aggregate gross proceeds of approximately $3,212,571
(the "Offering"). The Offering was led by NCP Northland Capital
Partners Inc. and included Pope & Company Limited
(collectively, the "Agents").
Each Unit is comprised of one common share of the Company (a
"Common Share") and one-half common share purchase warrant of the
Company (a "Warrant"). Each whole Warrant entitles its holder to
acquire one additional Common Share of the Company at a price of
$0.35 until September 15, 2013.
The Company paid commissions of up to 6.5% of the gross proceeds
of the Offering and issued an aggregate of 759,715 non-transferable
compensation options to the Agent and a finder to acquire a maximum
of 759,715 common shares of the Company at a price of $0.23 until
September 15, 2013.
The net proceeds of the Offering will be used by the Company to
fund the development of the Nampala Gold Project and for working
capital purposes.
"The funds raised with this first closing are sufficient to keep
our schedule on track for the future development of the Nampala
Gold Project for which a contract has been recently executed for
the camp construction; we are currently working on the road access
and have undertaken discussions on other key contracts such as the
Mill Detail Engineering and design. The Nampala Gold Project is a
low Capex and cash costs project and this first tranche represents
a milestone for Robex to become one of the low costs producer in
the region and become our base for growth in Mali" explained Andre
Gagne, President and CEO of Robex.
This news release is not an offer to sell or the solicitation of
an offer to buy the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to
qualification or registration under the securities laws of such
jurisdiction. The securities being offered have not been, nor will
they be, registered under the United States Securities Act of 1933,
as amended, and such securities may not be offered or sold within
the United States or to, or for the account or benefit of, U.S.
persons absent registration or an applicable exemption from U.S.
registration requirements.
This press release contains statements that may constitute
"forward-looking information" or "forward looking statements" as
set out within the context of security law. This forward-looking
information is subject to many risks and uncertainties, some of
which are beyond Robex Resources Inc.'s ("Robex") control. The
actual results or conclusions may differ considerably from those
that have been set out, or intimated, in this forward-looking
information. There are many factors which may cause such disparity,
especially the instability of metal market prices, the results of
fluctuations in foreign currency exchange rates or in interest
rates, poorly estimated reserves, environmental risks (stricter
regulations), unforeseen geological situations, unfavorable
extraction conditions, political risks brought on by mining in
developing countries, regulatory and governmental policy changes
(laws and policies), failure to obtain the requisite permits and
approvals from government bodies, or any other risk relating to
mining and development. There is no guarantee that the
circumstances anticipated in this forward-looking information will
occur, or if they do occur, how they will benefit Robex. The
forward-looking information is based on the estimates and opinions
of Robex's management at the time of the publication of the
information and Robex does not assume any obligation to make public
updates or modifications to any of the forward-looking statements,
whether as a result of new information, future events, or any other
cause, except if it is required by securities laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Investor relations/information: Marc Boisjoli, M.Sc.
Vice-president Finances / CFO 418-527-5023m.boisjoli@robexgold.com
Media relations: Frederic Berard Vice-President HKDP Communications
and public affairs 514-395-0375, ext. 259
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